French President Nicolas Sarkozy suggested Tuesday that the nations of the European Union should set up their own sovereign wealth funds to prevent European companies from falling into foreign hands as share prices plummet.
"I don't want European citizens to wake up in several months and find European companies belonging to non-European capital, which bought at the share price's lowest point," he said.
"All of us here should think about the opportunity to set up sovereign wealth funds in each of our countries," Sarkozy told European Parliament. "And maybe these national sovereign wealth funds could eventually coordinate to form a …
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