EUROPEAN COMMISSION STRUGGLES TO HOLD THE LINE AGAINST FLOOD OF EU AUTO AID
February 1st, 2009
BY KEITH NUTHALL COLLAPSING demand in the European Union's (EU) auto industry is piling so much pressure on its national governments to save their own manufacturers one casualty could be the EU's laws restricting public subsidies. These 'state aid' rules have long been a lynchpin of EU membership. They are designed to prevent EU member states from lavishing handouts and cheap loans on their pet domestic industries so they can undercut competitors in neighbouring countries. This is crucial because the EU is at heart a free trade area designed to allow the most ...
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