AIRLINK 204.45 Increased By ▲ 3.55 (1.77%)
BOP 10.09 Decreased By ▼ -0.06 (-0.59%)
CNERGY 6.91 Increased By ▲ 0.03 (0.44%)
FCCL 34.83 Increased By ▲ 0.74 (2.17%)
FFL 17.21 Increased By ▲ 0.23 (1.35%)
FLYNG 24.52 Increased By ▲ 0.48 (2%)
HUBC 137.40 Increased By ▲ 5.70 (4.33%)
HUMNL 13.82 Increased By ▲ 0.06 (0.44%)
KEL 4.91 Increased By ▲ 0.10 (2.08%)
KOSM 6.70 No Change ▼ 0.00 (0%)
MLCF 44.31 Increased By ▲ 0.98 (2.26%)
OGDC 221.91 Increased By ▲ 3.16 (1.44%)
PACE 7.09 Increased By ▲ 0.11 (1.58%)
PAEL 42.97 Increased By ▲ 1.43 (3.44%)
PIAHCLA 17.08 Increased By ▲ 0.01 (0.06%)
PIBTL 8.59 Decreased By ▼ -0.06 (-0.69%)
POWER 9.02 Decreased By ▼ -0.09 (-0.99%)
PPL 190.60 Increased By ▲ 3.48 (1.86%)
PRL 43.04 Increased By ▲ 0.98 (2.33%)
PTC 25.04 Increased By ▲ 0.05 (0.2%)
SEARL 106.41 Increased By ▲ 6.11 (6.09%)
SILK 1.02 Increased By ▲ 0.01 (0.99%)
SSGC 42.91 Increased By ▲ 0.58 (1.37%)
SYM 18.31 Increased By ▲ 0.33 (1.84%)
TELE 9.14 Increased By ▲ 0.03 (0.33%)
TPLP 13.11 Increased By ▲ 0.18 (1.39%)
TRG 68.13 Decreased By ▼ -0.22 (-0.32%)
WAVESAPP 10.24 Decreased By ▼ -0.05 (-0.49%)
WTL 1.87 Increased By ▲ 0.01 (0.54%)
YOUW 4.09 Decreased By ▼ -0.04 (-0.97%)
BR100 12,137 Increased By 188.4 (1.58%)
BR30 37,146 Increased By 778.3 (2.14%)
KSE100 115,272 Increased By 1435.3 (1.26%)
KSE30 36,311 Increased By 549.3 (1.54%)

France's industry policy, dubbed nationalistic by Germany, is putting pressure on the close alliance between the countries just days after their regular expressions of warmth culminated in joint D-Day commemorations.
Germany hopes French Finance Minister Nicolas Sarkozy is alone with what Berlin officials see as a France-first approach they believe is motivated by his ambitions to succeed Jacques Chirac as president in 2007.
Sarkozy's blunt refusal in recent weeks to let Germany's Siemens take over parts of troubled French engineering giant Alstom to form a European champion infuriated the Berlin government.
And in another knot in relations, German Economy Minister Wolfgang Clement effectively rebuked Sarkozy for demanding this week that the European Central Bank do more to boost growth.
"We shouldn't seek to influence the ECB like this, we have to give regard to and respect its independence," Clement told reporters.
German officials kept their cool after France backed a take-over of Franco-German drugs group Aventis by French rival Sanofi-Synthelabo earlier this year, in the hope that the next big deal would be under German control.
But the calm has gone and the Germans now see Sarkozy as the villain. Chancellor Gerhard Schroeder was reported by a newspaper to have called him "extremely nationalistic", while Clement denounced French "interventionism".
"You cannot blame that on Chirac, it's Sarkozy," said one German official who, like all functionaries in Berlin, refused to be identified on this sensitive issue. "Sarkozy wants to position himself against Chirac and is playing the national card without any restraint."

Copyright Reuters, 2004

Comments

Comments are closed.