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Paris submits details on car rescue plan

Publication date: 20 February 2009

The European Commission has received explanations from the French authorities on the country’s plan to provide support for its automotive industry. The response reached the Commission on 17 February, in keeping with the deadline. The EU executive had voiced concerns over one of the conditions of the French plan requiring aid beneficiaries not to shut down any plants in France, and over the period during which manufacturers would be entitled to subsidised loans (five years, whereas the temporary state aid framework adopted by the Commission last December authorises subsidised loans only in 2009 and 2010). French State Secretary for European Affairs Bruno Le Maire is set to meet Industry Commissioner Günter Verheugen, on 19 February in Brussels.


Source: Europolitcs

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