Thursday, December 18, 2008

Sarkozy warned of industrial wasteland in Europe

French President Nicolas Sarkozy warned (Dec 16) that the European Union could turn into an industrial wasteland without government help for manufacturers hit hard by the global financial crisis.

"We cannot be the only continent in the world that does not support its builders and manu
facturers. We have to help our industrial infrastructure," Sarkozy told the European Parliament assembly. "Otherwise we are going to see an industrial wasteland."

European car makers deserve help, he said, especially if the United States gives subsidies to its struggling auto sector. France should consider a loan programme helping consumers buy environment-friendly new vehicles, he said. ... By Huw Jones, Reuters UK


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