The partial, real or apparent reassurance surrounding Mittal Steel's take-over bid for Arcelor certainly has some positive aspects to it. But it is also a shame that it has had the effect of stifling the debate on the financial, industrial and stock market repecussions of globalisation (see this section in our bulletin 9124). Whatever the result of the operation, the questions posed have still not gone away and have to be answered even if (indeed, especially) if divergences within the EU are...