ANGST OVER petrol prices, confusion over Britain's relationship with the eu, bemusement at the American president's legal tangles: it feels like the 1970s in Europe again. In policy circles, too, talk of corporate "champions" and "industrial policy" is now heard nearly as freely as it was in the era of bell-bottoms and dodgy sideburns. Only the joyless technocrats at the European Commission are standing in the way of a full return to disco-era dirigisme.
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