France: Familiar Faces

Realism overcomes ideology

You could almost hear the sigh of relief here," said a top executive of France's Rhone-Poulenc chemical and fiber conglomerate. Applauded the conservative Paris daily Le Figaro: "It seems that realism has finally overcome ideology." Even Pierre Charpy, a spokesman for the opposition Rally for the Republic Party, conceded that the long-dreaded move by the Socialist government of President Francois Mitterrand was "not a scandal."

All that exhaling followed the government's formal takeover last week of Rhone-Poulenc and four other industrial groups, with total 1980 sales of $46...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!