« France’s Caisse des Dépôts et Consignations (CDC) has just provided fresh ammunition for critics who say the state-backed investor distorts markets by acting as the “armed wing” of the French finance ministry. On October 17, Prime Minister Jean-Marc Ayrault unveiled a new public investment bank, jointly owned by the CDC and the government, to lend to struggling small and medium-size businesses. Jean-Pierre Jouyet, the CDC’s chief executive, denied the Banque Publique d’Investissement would throw money at “lame ducks”, but there are plenty of sceptics who do not believe him.
“The Caisse’s latest initiative is not how the free market should work,” says Philippe François, a senior researcher at iFRAP, a policy think tank in Paris. “It shows once more how the CDC lacks any independence from the state.” »
Un article de Richard Tomlinson, publié le 26 octobre 2012.