Emmanuel Macron's refusal to nationalize ArcelorMittal: Eric Coquerel notes "an admission of weakness" on the part of the president

If the President of the Republic "rules out nationalization and rules out forcing ArcelorMittal to sign the decarbonization contract, it will end up exactly like other steelworks" in France, the LFI MP lamented on franceinfo on Tuesday.

Eric Coquerel, LFI MP for Seine-Saint-Denis and chairman of the National Assembly's finance committee, noted "an admission of weakness" on the part of Emmanuel Macron on Tuesday 13 May, concerning "what remains of French industry" , the "major issue before us today".

Questioned on TF1, the head of state affirmed that he was not going to nationalize ArcelorMittal "because that would mean spending billions of euros." Emmanuel Macron, however, affirmed "eye to eye" that the sites of Dunkirk (Nord) and Fos-sur-Mer (Bouches-du-Rhône) would be "saved." The world's second-largest steelmaker, grappling with a historic steel crisis in Europe, is planning to cut around 600 jobs at seven industrial sites in northern France.

Emmanuel Macron has declared that he "intends to let the market take its course," which "greatly worries" the chairman of the National Assembly's finance committee. "The head of state is letting the invisible hand of the market take its course," a hand fueled, according to Eric Coquerel, "by state aid."

If the president "rules out nationalization and rules out forcing ArcelorMittal to sign the decarbonization contract [for the site], it will end up exactly like other steel sites" in France, warns the rebellious MP. "We are in a period of deindustrialization, " he continues, " in concrete terms, we are losing industrial jobs in this country." "We would be better off investing in nationalization," the elected official repeats, before we can no longer manufacture steel in France, "which threatens us in the years to come," he warns.