There’s been a lot of fuss about the European steel industry in recent months, with various spats with the US over tarrifs and production and the like. All fair enough – important industry and what have you.<\/p>\n
But when you randomly read that a company which posted profits of about \u00ef\u00bf\u00bd287 million (zt1.7 billion) last year, and has been accused of dodgy transactions<\/a> with those profits, is owned by a multibillionaire suspected of not being averse to trying to use his cash to influence elected officials (including Tony Blair)<\/a>…<\/p>\n When you read that this company is currently getting subsidies to the tune of \u00ef\u00bf\u00bd750 million<\/a> (c. \u00ef\u00bf\u00bd524 million), thanks to a special EU-authorised exemption, in exchange for doing, erm… not a lot really, you really have to start wondering what the pissing hell they’re thinking.<\/p>\n Come on – someone who knows more about business than me – can you explain why a profitmaking company in a profitable industry owned by a multibillionaire whose personal fortune has risen so much he has jumped 59 places up the Forbes global rich list in the last year<\/a> (to be named 3rd richest man in the world) should receive handouts?<\/p>\n","protected":false},"excerpt":{"rendered":" There’s been a lot of fuss about the European steel industry in recent months, with various spats with the US over tarrifs and production and the like. All fair enough – important industry and what have you. But when you … Continue reading