French Socialist cites Obama as his inspiration in seizing industries

French Industry Minister Arnaud Montebourg is threatening to kick steel makers out of his country and seize control of their businesses, and said he got the idea from U.S. President Barack Obama‘s decision to put the American auto industry under White House control.

Montebourg, a member of the Socialist Party, suggested Indian steel company ArcelorMittal should leave the country and the government take over control of their plants.  “The French government announced on Thursday that it could nationalize the factory in question, with backing from an unnamed businessman,” NBC reports.

“Barack Obama’s nationalized,” said Montebourg in reference to the Obama administration seizing control of General Motors.  “Nationalizing is a very modern step to take…It’s a way of making the economy work in the interests of industry.”

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