Des champions nationaux ?

Les liens entre les Etats et les entreprises défrayent la chronique. En Russie par exemple, le Président Vladimir Poutine est apparemment obsédé par la création de “ champions nationaux ” dans les secteurs de l’énergie et de l’aérospatiale. Un vent protectionniste souffle de manière générale sur le débat politique sur les entreprises en Europe, en particulier en ce qui concerne les acquisitions transfrontalières.

Partout en Europe, les gouvernements veulent donner l’impression de défendre les entreprises “ nationales ” contre leurs concurrents “ étrangers ”. La formule “ patriotisme économique ”, lancée par Dominique de Villepin à la suite des rumeurs selon lesquelles PepsiCo aurait tenté en juillet 2005 de racheter Danone, résume avec brio cet impératif politique. Certes, les discours du Premier ministre français sont plus exubérants que ceux de la plupart des dirigeants politiques, mais son sentiment est partagé bien au delà des frontières françaises.

Ainsi, le “ patriotisme économique ” explique la politique de l’Italie concernant Autostrade, celle de l’Espagne pour Endesa, de la Pologne pour son secteur bancaire et de l’ex-Premier ministre suédois pour Volvo, ainsi que le malaise allemand au sujet des fonds spéculatifs semblables à une “ nuée de sauterelles ” s’abattant sur Deutsche Börse, ou encore l’attitude de plus en plus défensive du Royaume-Uni qui maintient l’indépendance de la bourse de Londres par rapport aux Etats-Unis.

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