The deafening silence around
the Cargolux "Informateur"
Don't get me wrong.
That silence is a good thing. It means that the need to rush things as we were
made to believe, isn't there anymore.
After all that noise, the silence is deafening, and we can finally listen to
our inner heart beat. Here is what the story tells us:
1. Despite rehashing
the story in Parliament again and again before the "Neiwalen", the
political side still has no good understanding of what an adequate solution
would be.
2. The "Informateur"
may or may not have made his report to the new coalition partners on Monday of
last week, as advertised. Chances are he did not, or we would know from a leak.
Actually wouldn't we have gotten some official information the same day?
3. The
"Informateur", Mr. Schaus' background at Bain is probably a sign that
he will have had a broad investigation into the possibilities, unless his
mandate was restricted to the well known short list of contenders for the
government's 35% stake in the company. That would be a disappointment.
4. The rush to conclude
a deal in October was not credible. And actually the pressure from the European
Commission, bearing on the Luxembourg government to sell, should be encountered
with benign neglect. Europe violates its big principles and rules every day,
such as national budgets spinning out of control, despite the imposed 3% of GDP
limitations on deficits. Can't we get a break too? I would think the Cargolux
question in that respect underlies the principle of subsidiarity. Luxembourg
knows best how to shape Cargolux, remote European apparatchiks don't. The fact that the Luxembourg government just
prolongs holding shares of Cargolux and thereby protects the company and its
employees, is difficult to argue with. And certainly is, when considering that in
the name of European compliance, Cargolux was pushed into the QR disaster. Just
wait. And what about the local interests for a financial participation people keep telling
me about? Are they getting ignored?
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