EU ADVISORY COMMITTEE WARNS RECESSION COULD PROMPT UNDER-CAPACITY IN EUROPEAN AUTO SECTOR
May 1st, 2009
BY KEITH NUTHALL
A KEY advisory body within the European Union (EU) has called for special efforts to prevent recession-prompted rationalisation within the European auto sector going leading to long-term under-capacity in the sector.
The European Economic and Social Committee (a long established expert group that must be consulted on a range of issues by other EU institutions) has warned in a formal opinion that "care must be taken not to equate structural problems with overcapacity alone."
It noted that Europe has already "seen a sharp drop in ...
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