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Deal with Mittal Steel should be on economic interests : Schroeder

Written by: Staff

New Delhi, Mar 10: Former German Chancellor Gerhard Schroeder today (Mar 10, 2006) said the deal with Mittal Steel (on Arcelor issue) should be decided on economic interests only.

''It is quite natural there are concerns over security of jobs and labour. But this could be addressed by applying economic principles,'' Mr Schroeder said in a reply to a question after addressing the India Today Conclave here today.

''I'm a lawyer and I would say that the takeover by Mittal should be dealt with on the basis of economic interests only,'' he said.

The former German Chancellor said same conditions should apply for everyone including for new markets. A ''level-playing field'' should be there.

He said Western nations must not make the best of conditions for themselves. Open markets are good for both. Europe can't afford to close itself.

Mr Schroeder said Indian investment should also be allowed.


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