Biz Watch

PHILIPPE DESMAZES/AFP

Reform could see Roussely's own power cut

Is the French Exception Dead?
The French state has meddled in business ever since Jean-Baptiste Colbert ran the economy for Louis XIV. Now some are saying enough is enough. A parliamentary report published last week slammed state-owned enterprises, saying the French model "no longer fulfills new international and European demands." Among firms singled out: France Télécom, which the government has just bailed out with a €9 billion injection; the postal service, which is 25% overstaffed compared with European rivals; and the national utility

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