French paper Le Monde reports that French president Nicolas Sarkozy recently declared his intention to make French’s depositary reserves (Caisse des depots ‘CDC’) into a sovereign wealth fund… « There is no reason that France should not have one, » he said. In January, Mr. Sarkozy had already indicated that he wanted to make CDC into a political instrument of defence of firms against the rise of speculative funds. The French government also wants to have the fund invest in sensitive sectors .
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Source: Sarkozy plans SWF to counter speculative fundsSarkozy plans SWF to counter speculative funds |
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