The French government said on Tuesday it is ready to use all measures necessary to support big companies suffering during the current global market turmoil caused by the Covid-19 pandemic. “I won’t hesitate to use all means available to protect big French companies,” Finance Minister Bruno Le Maire said on a call with journalists, adding: “That can be done by recapitalisation, that can be done by taking a stake, I can even use the term nationalisation if necessary.” Comment: By ‘recapitalisation’ the minister probably means some form of government (taxpayer funded) bail out. According to the Financial Times citing Le Maire, Paris has also promised a package of measures worth €45 billion (US$49.8bn) to help companies and employees withstand the pandemic-linked storm. The package will include payments to temporarily redundant workers and postponed tax and social security bills.
Source: France may nationalize major companies amid market meltdown, global airlines need billions in bailouts