France knows how to support companies during a crisis; it moves quickly and the word is getting out, even as far away as the United States. Within days of each other, two major American financial media outlets published analyses praising the relevance and responsiveness of France’s industrial policy.
A New York Times article opens with the saving of Brittany-based faïence producer HB-Henriot and applauds the speed with which the French government acted in a time of crisis. The rescue measures were particularly effective, especially for medium-sized job-creating companies. In short, France was able to provide “timely, temporary and targeted” support, in the words of French Finance minister Ms. Christine Lagarde who is quoted in the article. This approach has led France to recover from the recession faster than its European neighbors.
