Car companies request €40bn loan from EU bank

Article reports that the next two weeks would be decisive for Europe’s beleaguered carmakers as they appeal to the EU for support in the face of tumbling demand and scarce credit.
The carmakers requested a €40bn soft-loan package from the European Investment Bank, the EU’s long-term lending institution. The issue was discussed by the EIB’s board of directors on the 18 November 2008, according to people close to the institution.

ESO: Background information: European carmakers hopeful of €40bn rescue http://www.europeansources.info/record/european-carmakers-hopeful-of-e40bn-rescue/

ACEA: Press Release, 14.10.08: Fall-out of financial crisis adds to pressure on ato-industry http://www.acea.be/index.php/news/news_detail/fall_out_of_financial_crisis_adds_to_pressure_on_auto_industry/

European Association of Automobile Manufacturers (ACEA): Homepage http://www.acea.be/

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