Sarkozy loan with foreign alliances for the Strategic Investment Fund

French President Nicolas Sarkozy announced Thursday that the Strategic Investment Fund is ready to French "have alliances with other sovereign countries.

The Head of State announced during a visit in the Loir et Cher that he intended to support strategic enterprises during the crisis, would be provided with 20 billion euros. Daily Finance and Investment Tips / Make Money by Learning

Recall that on October 24, the French government had denied that the French sovereign fund whose creation was announced the previous day by Nicolas Sarkozy would have a hundred billion euros, adding that no precise figure was set .
"In this fund to the French sovereign, we are ready to have alliances with European sovereign funds or foreign, from the moment it is transparent, and where we know that it's leverage to further develop the investment, "said the head of state, also taking some lightness with the language of Moliere. You will also note in passing interest that President door to the values of transparency ... the scoops is not necessarily where you believe ...

Remember, the sovereign funds already exist have been established by governments of countries with excess savings, due to significant oil resources (such as the Middle East, Russia or Norway) Of budget surpluses (Singapore) or foreign exchange reserves of central banks (China). These funds manage assets considerable, whose total amount is difficult to assess, the states are very versatile on the subject ...

According to the IMF, the value of their assets rise between 1900 and 2800 billion dollars. For the Unctad, these assets would be about 5,000 billion dollars.

The French public funds is in turn intended to help businesses in difficulty. It will own resources of the Caisse des Depots, the financial arm of the State, which will be responsible to manage, but also to provide public or private.

"What oil producers do, what the Chinese do, what the Russians do, there is no reason that France does not make for an industrial policy worthy of the name", said the French president at its inception.

"They will not support businesses lost money, but to stabilize the capital of companies that have a future, who have know-how and technologies which could be tempting prey for predators who would advantage of an under-valuation momentary, "he explained.

In late October, Secretary of State for Employment Laurent Wauquiez found that the state should mobilize to "roughly a hundred billion dollars" for the fund before its services deny this information.

According to a statement by François Fillon made on that date, it is "an instrument of deterrence" which "helps to inform everyone that the state has the means to intervene in situations that would be situations danger to the French industrial ".

The French government had denied that parallel the French sovereign funds would have a hundred billion euros, adding that no precise figure was set.

"There is today no decision taken regarding the amount of its endowment, said at the time the head of government while traveling in Evreux. "It's very premature to discuss a figure for this sovereign funds for a very simple reason is that this fund will have to meet the needs of the French economy", had he added.

"I refute the figure of 100 billion euros which dragged", had also considered Finance Minister Christine Lagarde at a press conference in Paris.

According to the announcement made today by Nicolas Sarkozy, the Strategic Investment Fund French, will have 20 billion euros. "We want to make the crisis an opportunity for development," he declared at the plant Daher Saint-Julien de Chédon. "Since banks are timid and do not, we will finance it," he added, saying that it called a "pragmatic policy".

The Head of State also "benefited" from the opportunity to announce that Jean-Francois Dehecq (Sanofi-Aventis) was appointed chairman of guidance and Patricia Barbizet (PPR) Chair Fund's investment strategy Investment.

Former CEO of Sanofi-Aventis, he hoisted the fourth largest global pharmaceutical companies, Jean-Francois Dehecq left hand to his dolphin Gerard Le Fur early 2007 but remained chairman of the board of directors.

Patricia Barbizet, vice-chairman of the PPR group and General Manager Artemis, the holding company of businessman François Pinault, is 20 years since the right arm of Pinault father and son.