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European Auto Makers Ask For $55 Billion In Loans To Meet New Standards
European car makers Monday asked the European Union to consider a EUR40 billion low-interest loans package to help secure a sustainable market for current and newly developed fuel-efficient technologies.

The request is part of an initiative driven by the European Automobile Manufacturers' Association, known by the French acronym ACEA, to ensure the future of car manufacturing in Europe and to reinforce the momentum in consumer demand for fuel-efficient vehicles.

"The proposed loans-package will give an important and welcome signal to consumers and financial markets," said Christian Streiff, president of ACEA and chief executive of French car maker PSA Peugeot-Citroen.

2008 Paris Auto Show

2009 BMW 7-Series
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European Auto Makers Ask For $55 Billion In Loans To Meet New Standards



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E36erE36er - 10/6/2008 12:58:53 PM
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This proves once again that the so called green economy will take more than “feel good” intentions that everyone’s been touting about. This effort will take a lot of cash to make it happen. Banks throughout Europe have been nationalized or are in the process of being nationalized. Getting the government(s) to fund this kind of effort would be difficult enough during good times, but now with the down turn in the Global economy, it’s the proverbial water from the stone scenario.

On a related side note; Darwinian economics can work untill many predators that gorge themselves at the expense of others. Since our great nation appears to have more multi millionaires than any other Country maybe we could look to them to help us out of this mess. Is it possible to call upon the patriotism of these economic elites to give back from which they received so much? It will take a great deal of courage for our top 1% to offer any help, courage that is sorely lacking.


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VISOVISO - 10/6/2008 3:34:22 PM
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"On a related side note; Darwinian economics can work untill many predators that gorge themselves at the expense of others. Since our great nation appears to have more multi millionaires than any other Country maybe we could look to them to help us out of this mess. Is it possible to call upon the patriotism of these economic elites to give back from which they received so much? It will take a great deal of courage for our top 1% to offer any help, courage that is sorely lacking"

What an amazing comment - such left-wing liberal socialist entitlement garbage! Stop playing the victim. Everyone, if they choose or have the self-abiliities to do so, have the chance to create wealth for themselves. That is what continues to make America great regardless of its current economic state. To say that someone wealthy, who likely earned it in most cases, (unlike the elitist liberals who are handed their fortunes and don't work a day in their lives)should be penalized for making a success out of their lives is akin to nothing more than wealth distribution seen in dictatorships and communist countries. First of all, many of these so-called economic elites as you call them, own businesses that employ hundreds of thousands of workers that allow the middle class to function. And how do you know they are not helping? Many reinvest in their businsess or seek new businesses that assist growth of the economy, to put in simpliest of terms. Yes, there are many on Wall Street whose wealth serves no purpose because they did not create anything substantial and their due is obviously now coming, but do not attempt to catagorize everyone who may be a millionaire or wealthy as some economic elite with no courage. The ability to create your own wealth and to give your family a better way of life should be protected as one of our fundamental rights, and not be punished or curtailed. You sound like Biden Sound Bite! And how do you know they are not giving back in many ways? What a naive philosphy and contrary to American ideals.

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E36erE36er - 10/6/2008 5:02:29 PM
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Thanks for the compliment, I'd rather be associated with Biden than Palin. It's good to know that ignorance is not rampant in this country...





w209w114w209w114 - 10/6/2008 3:51:09 PMView My AgentSpace
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Europe, youre heading for a blackhole, and quickly. Your recession has already started. They had 4 bilouts this week and the leverage ratios of the major European banks like Barclays, UBS, Deutsche Bank, and BNP Paribas are even scarier than those of Lehman Brothers and Goldman Sachs. They have much less of a cushion to absorb losses once things start to go sour. The Euro has also fallen to $1.35 I believe. Not looking good.

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w209w114w209w114 - 10/6/2008 3:54:12 PMView My AgentSpace
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4 bailouts this week**


Htay7500Htay7500 - 10/6/2008 8:26:50 PM
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The euro has dropped against the USD about 20 cents for about a month or so.


VISOVISO - 10/6/2008 6:03:46 PM
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Who said I was associated with either Biden or Palin. You make ignorant assumptions on your own probably being spoonfed from what you hear in the media. If that is compliment to you, I'd hate to see what is an insult.

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E36erE36er - 10/6/2008 9:10:43 PM
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"You sound like Biden Sound Bite" these are your words.

Go ahead and stick your head in the ground keep on doing things that you consider to be "American" to your head. If you read more than just the bible you would probably be a wiser person. How's that for making assumptions...

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