Thursday, December 22

Doctor's (Merkel) orders

Germany's new centre right government looks set to snub the European Commission (EC) by passing legislation that will protect domestic firms from foreign takeovers.The move comes as the EC attempts to push through a directive to make cross-border mergers easier.
It will confirm fears that above Chancellor Merkel's promised reform of Germany's economy to a more market oriented footing is likely to be less radical than she claimed while in opposition.
So much for Tony Blair's vision of "the largest political and economic union in the World" and also so much for the single market.
A pity British politicians have not adopted the same protectionist attitude to British Industry, but then as good Europeans they wouldn't be inclined to do so.

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