American Corporations Pulling For Sarkozy; Socialist Party Victory Would Be “Bad for the Economy”

May 5, 2007

Hopes of an anti-Bush fueled European power realignment may be squashed this weekend, as French right winger Nicolas Sarkozy seems to be ahead in the polls for the upcoming May 6 French election runoff. “Socialist” (center left) challenger Segolene Royal is not favored by the transnational corporations and Wall Street. Anytime we read about how American “Business” (the friendly word for corporation), thinks a certain candidate is “better for the economy”, it is always code for trade liberalization, union busting, and overall wealth consolidation. France, which has fought hard for its living wage and 35 hour workweek, may see its worker’s rights severely curbed in the event of a Sarkozy victory. Expect Sarkozy to be far more likely to embrace the Bush Middle East agenda vis-a-vis Iran and Israel as well.

From the AP:

Most U.S. businesses are pulling for Sarkozy, analysts in the U.S. said, because he has promised to loosen rules that limit the French work week to 35 hours and would make overtime pay tax-free to encourage more work. In contrast, Royal wants to raise the minimum wage.


U.S. companies see strict French labor rules and other regulations as “impediments to growth and expansion,” Shapiro said, and some of the changes proposed by Sarkozy “would make France a more attractive place to invest and do business.”

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