Boost industry, not banks
WORKERS, DECEMBER 2008 ISSUE
The French government is planning to put 20 billion euros directly into a strategic investment fund designed to protect key French industries, bypassing the banks.
The German and Italian governments have both warned that the EU’s controversial climate and energy package will force manufacturing to move out of Europe to countries that have less restrictive policies towards the industries.
And what is the Brown government doing? Giving billions to the banks to enable them to reward themselves for their failure! It is more wedded to neo-liberal dogmas about free trade and free movement of capital than any other government. Far from leading the world out of the slump, the Brown government is the most backward of them all.