Scepticism before the EU Spring Summit

The Italian economist Tommaso Padoa-Schioppa, a former member of the executive board of the European Central bank, writes about the 'economic patriotism' defended by the French government, in the context of company mergers. "Yes to patriotism, no to protectionism. We must not condemn esprit de corps and collective ambition. These are the indispensable levers of success - even economic success - in each community, whether regional, national or European. Why should community spirit only express itself in football? ... But when patriotism resorts to protectionism, it is going about things by the wrong means. Instead of promoting the welfare of all, it creates privileges for the few."

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