June 13, 2007 (LPAC)--In Paris, EIRNS reports that the President Sarkozy who was openly supported by the biggest fortunes of France, has just announced a series of measures to comfort his masters. After a round table organized at the Elysee with the country's 16 leading bankers, insurance company heads and managers, Sarkozy announced the launching of "an action plan for the financial industry"; i.e., measures which will pump up the financial bubble in France. Among the main objectives is obviously the creation of a "sub-prime" real estate market which had been blocked by the most reasonable in France until now.

An Elysee spokesman said, "The financial industry, which employs more than 750,000 employees in France, plays an essential role in financing the economy and the competitiveness of our companies." The plan should address three aims: "open up access to credit to persons excluded today because of irregular income, facilitating particularly their access to ownership; improve the financing of companies, more specifically the small and medium companies; and reinforce the competitiveness of the Paris financial market, against the pre-eminence of London."

According to today's Le Monde, many of the managers at the meeting "were all smiles," several stating "they knew Sarkozy personally." The president of GEMA, the Mutual Insurance Companies Group, stated, "M. Sarkozy explained to us that he had a mandate, while we had the instruments to act. We will take up our responsibilities!"

Let us recall that among Nicolas Sarkozy's masters one finds Bernard Arnault, fortune number one of France and head of the luxury business LVMH (i.e., Louis Vuitton Moet Hennessy); Antoine Bernheim, from the historical Lazard Frères, now president of the Assicurazioni Generali; Vincent Bolloré, Bernheim's protégé and owner of a recently acquired colonial fortune in Africa; and Martin Bouygues, head of the largest construction company of France.