PARIS May 21 France is considering steps that
would direct the investments of financial institutions such as
pension funds and insurance companies towards French companies,
according to Economy Minister Arnaud Montebourg.
"We have this huge national savings pot, 1,300 billion euros
in life insurance," Montebourg told a parliamentary committee
late on Tuesday. "We have not yet decided to increase the level
of constraint on insurance companies so that they invest more in
the main businesses of our country. We could do that."
"We need this money, these billions, these hundreds of
billions invested in our companies," he said during a hearing
about engineering group Alstom's plan to sell its
power arm to General Electric of the United States.
"We're not penniless, we're not devoid of resources, but we
have not taken this kind of decision. I think it might have to
be taken," he said.
(Reporting by Yann Le Guernigou; writing by Andrew Callus;
editing by Mark John)