French Nationalization Case
France Constitutional Council
No. 81-132 DC of 16 Jan. 1982 (1982)
- Written by Mary Katherine Cunningham, JD
Facts
Starting in 1979, the French Socialist Party aimed to nationalize the French economy through ordinary enactments rather than constitutional amendments. In 1981, the Socialist Party gained power over the French government after national elections. The Socialist Party subsequently enacted a statute to nationalize sections of industry, banking, and commerce. By 1982, the French state had acquired a virtual monopoly over the financial and investment sectors. The government owned every major bank and controlled 85 percent of the outstanding credit. The government had also acquired 13 of the 20 largest corporations. At this point, the French public sector controlled three-fifths of all investment, one-half of all production in big industry, one-half of all exports, and one-fifth of the domestic retail market. In the French job market, one out of every three jobs were public-sector jobs. The law faced a challenge, which was referred to the France Constitutional Council for a decision on whether the law violated the Constitution of France and Article 17 of the 1789 Declaration of the Rights of Man and of the Citizen.
Rule of Law
Issue
Holding and Reasoning (Per curiam)
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