The French government’s rollback on key conditions of bailout loans for its auto industry averted a possible crisis at Sunday’s European Union special recession summit in Brussels. French President Nicholas Sarkozy’s offer to lend €6.5 billion ($8.2 billion) to Renault SA and PSA Peugeot Citroen on the condition the two auto makers pledge not to close domestic plants and shift production to lower-cost regions, such as Czech Republic, sparked fears other EU governments would rush to ...
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