Nationalize ArcelorMittal? It's possible, and not that complicated.

The bill is ready. And it doesn't beat around the bush. Article 1: "In order to guarantee industrial sovereignty in the steel sector, recognized as essential to defense, critical infrastructure, and the energy transition, as well as the protection of jobs and skills, ArcelorMittal's industrial sites located in France, identified as strategic for the steel industry and the energy transition, are nationalized ."

Submitted on May 14, the text, co-signed by 52 senators from the Communist (CRCE-K), Socialist (SER), and Green (EST) groups, and even by a member of the Republicans (Alain Chatillon), is only at the first stage of its legislative process and awaits examination by the Finance Committee. It is nonetheless a symbol of a change in attitude and political dynamics.

When a private company operating in strategic sectors is on the verge of failure, public authorities can and must take control. Other bills currently being prepared in the National Assembly by the rebels, environmentalists, and socialists will advocate this to varying degrees.

ArcelorMittal is right on target. With its forty industrial and commercial sites, employing more than...