It was a proposal by Marine Le Pen during the 2017 and 2022 presidential elections, the RN has relaunched the idea of a sovereign fund of 500 billion for France. What would be the mission of this patriotic fund? Explanations from Charles Sannat, founder of the insolentiae website. Ecorama of July 1, 2024, presented by David Jacquot on Boursorama.com
To summarize my intervention for you, if a sovereign fund is obviously a good idea and this good idea should be totally transpartisan, we must not believe that the creation of such a tool will be simple, and without risks.
For example, the Norwegian sovereign fund lost 150 billion euros in… 2022!!! That’s quite a bit of money all the same.
The two largest sovereign wealth funds in the world, the Norwegian and the Saudi, are in reality funds that are replete with oil money.
In France we don’t have oil but ideas, so we’re going to have to fill this fund with money from our ideas and therefore from our companies, but which ones? What rules of choice or commitment?
Who will put in the money? A priori the population who will be invited to invest in it. Good idea, but the money that goes there will not go elsewhere either at the risk of robbing Paul to pay Jacques, Pierre or whoever you want.
In short, as always, the devil is in the details and like everything, a good idea, even if it is good, requires a lot of work.
Charles SANNAT
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