dimanche 7 mars 2010

Belgium Socialists/Ecologists to fund 60 millions in Carbon to Tycoon Mittal

Despite a constant populist speech about how Capitalism fails, the South Belgian gouvernment decided to fund one of the biggest Capitalist on Earth.

Indeed, Mittal got a gift from Belgium for the equivalent of 60 Millions in Carbon Trade. The counterpart would be a mere 600 new jobs, which barely make up for 25 millions €.

That "public" decision is debatable since:
1. We stimulate local pollution rather than seeking new and long term ways to employ people;
2. We overfund the employments impact. Belgian's average in Manufacturing is around 45k€ a year, less than a half of what the government gives away;
3. We give more Carbon to Mittal than he actually needs. With the new fluctuation of Carbon, it's a huge financial gift.

It's not the first time Belgium's falling in the money incentive trap for the Steel industry. Belgium is an Alzheimer's patient in a whorehouse.