The European Investment Bank (EIB) could help out struggling European car makers with a credit programme worth up to €40 billion, with details expected next week, the Financial Times reports. With car sales dropping 15.5 percent in Western Europe in the past month, car makers on the continent are turning to national governments and EU institutions to rescue them from the spreading recession. European carmakers are lobbying Brussels, Berlin, London and Paris to help secure their future The €40 billion rescue package from the EIB would be double the amount the American congress is proposing to save US car giants General Motors, Ford and DaimlerChrysler. Details of the bail-out could be put forward next week, when the European Commission expected to make proposals to bolster struggling industries in the face of the economic slowdown. Top executives of German car maker Opel are to meet Chancellor Angela Merkel on Monday (17 November) in a special cabinet session. Opel is struggling "not to go under" with its American owner General Motors, threatened by bankruptcy, Frankfurter Allgemeine Zeitung reports.
The European Investment Bank (EIB) could help out struggling European car makers with a credit programme worth up to €40 billion, with details expected next week, the Financial Times reports.
With car sales dropping 15.5 percent in Western Europe in the past month, car makers on the continent are turning to national governments and EU institutions to rescue them from the spreading recession.
European carmakers are lobbying Brussels, Berlin, London and Paris to help secure their future
The €40 billion rescue package from the EIB would be double the amount the American congress is proposing to save US car giants General Motors, Ford and DaimlerChrysler.
Details of the bail-out could be put forward next week, when the European Commission expected to make proposals to bolster struggling industries in the face of the economic slowdown.
Top executives of German car maker Opel are to meet Chancellor Angela Merkel on Monday (17 November) in a special cabinet session. Opel is struggling "not to go under" with its American owner General Motors, threatened by bankruptcy, Frankfurter Allgemeine Zeitung reports.
It has been a real eye-opener. 7 years ago when we bought our first car in France, the concept of a discount was seen with agock. Now, Citroën knocked 2,000 off just for walking in the door, plus another 700 euros, passing on the states ecology payment. Peugeot was selfish at only 1,500€ plus the 700. Ford was more refined; the larger amount for the Focus, and next to nothing for the new Fiesta.
Unfortunately, all these cars are somewhat overpriced to start with...IMHO. If I do any more research, I am going to have to open an english-speakers French car blog. Never underestimate their intelligence, always underestimate their knowledge.
Frank Delaney ~ Ireland
