Well, just so you understand, prior to their kind of crisis of confidence, if you will, Europeans must, uh, we in America hear about it every day, they must hear about it every morning and every evening of every day.
And is Greece going to go under? Is Italy going to go under? What’s going to happen to the euro? The banks are on stilts…it has echoes of what was going on here 2008 and 2009. Coming out of bankruptcy, [GM] did close a plant. There are only two plants closed in Europe. Fiat closed one and we closed one in Antwerp, Belgium. We laid off about 4,000 people and were were profitable for the first half of 2011 in Europe.
Now we, Ford , Fiat, Pugeot, Renault — they’ve all come out and said, ‘Yeah, we have profitability problems in Europe.’
And you’re right. We had to close 14 plants in the United States when we had our crisis.
We think we’re going to have to adjust our production levels in Europe over the next couple of years in order to get our house in order in Europe.
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