France: De Gaulle & Business
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To critics of France's internal economy, Finance Minister Valéry Giscard d'Estaing announced last week that the government plans to liberalize credits in order to spur investment and exports. That will do much to quiet De Gaulle's business foes. Criticism will also be tempered by French businessmen's acute awareness that they operate in a controlled economy in which the government has enormous power of the purse. As if to emphasize the point, Giscard also said that the government will raise $200 million that it will lend to "selected" industries.
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