FRENCH U-TURN DRAWS STING FROM WEEKEND EUROPEAN SUMMIT
March 1st, 2009
BY KEITH NUTHALL
A U-TURN by the French government on key conditions of bail-out loans for its auto manufacturers averted a possible crisis at Sunday's European Union (EU) recession summit in Brussels. One day before, the EU's executive the European Commission announced Paris had abandoned plans to tie Euro 6.5 billion in loans for its car makers to a pledge not to close plants in France during the current slump and use French suppliers.
EU competition commissioner Neelie Kroes announced she was "satisfied with the guarantees...on the absence of ...
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