FRENCH U-TURN AVERTS POLITICAL CRISIS OVER AUTO BAILOUTS AT BRUSSELS WEEKEND SUMMIT
March 1st, 2009
BY DAVID HAWORTH
ONE day before a Sunday European Union (EU) emergency summit on the global recession, the French government made a U-turn on its proposed Euro 6.5 billion aid plan for Renault and Peugeot-Citroen, dropping its previous conditions relating to the factories' locations and obliging manufacturers to favour French suppliers when making purchases.
The European Commissioner for Competition, Neelie Kroes, received a last minute letter from Luc Chatel, the French industry minister, in which he withdrew the protectionist proposals which had caused ...
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