The shape of the European Commission’s potential rescue package for the European Union automobile industry has become much clearer: a E40 billion ($52 billion) soft loan via the European Investment Bank. The potential loan was revealed by EU Industry Commissioner Günter Verheugen after a meeting with European auto sector executives, including officials from France’s PSA Peugeot Citroen and Germany’s Daimler AG, under the umbrella of the EU’s CARS 21 reform initiative. Verheugen says the ...
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