Economics

France’s Latest Plan to Save Businesses Has Europe Intrigued

The country is resurrecting a financial instrument introduced in 1978. Other governments on the Continent are watching.

President Emmanuel Macron tours an Aplix factory in Le Cellier, France, on Feb. 11. — President Emmanuel Macron tours an Aplix factory in Le Cellier, France, on Feb. 11.
Photographer: Damien Meyer/Reuters

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By William Horobin

February 24, 2021 at 5:01 AM UTC

This article is for subscribers only.

This article is part of the March 1, 2021 issue of businessweek.

Emmanuel Macron’s government is digging deep into its policy toolbox to find ways to transition the economy back to normality and fulfill the president’s pledge to support businesses and workers, “whatever the cost.”

A plan being prepared in Paris would deploy state guarantees to back €20 billion ($24 billion) of so-called participative loans.