It was a moment to savour for Arnaud Montebourg, France’s flamboyant economy minister who carries the torch for the interventionist left in President François Hollande’s Socialist government.
At a dramatic press conference relayed live on television, he proclaimed victory in his tussle with General Electric, titan of US industrial capitalism, over the terms of its takeover of much of the energy group Alstom, symbol of French engineering prowess.
“It is a victory for Alstom, a success for France and undeniably a political success for the return in force of the state in the economy,” Mr Montebourg said.
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