| Author (Corporate) | EurActiv |
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| Series Title | EurActiv |
| Series Details | 26.2.09 |
| Publication Date | 09/02/2009 |
| Content Type | News |
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The automotive sector with its 12 million jobs depending on this strategic industry has been hit particularly hard by the current economic crisis with new registrations down by 20% and gloomy expectations for 2009. Due to its close links to other sectors and the wide spread of supply industry and vehicle trade, the negative economic effects reaches out to millions of employees in all Member States. In a Communication issued on the 25 February 2009 the European Commission defends a proactive stance to support industry in their efforts to withstand the crisis, soften negative effects and ensure long-term competitiveness. Building on the European Economic Recovery Plan of 2008, it sets various measures to improve access to credit, to clarify the rules for granting state aid in the particular circumstances, to boost the demand for new vehicles through coordinated national action, to minimise social costs and retain the skilled workforce and to defend fair competition in open markets. The Commission suggests a new partnership with industry, trade unions and Member States in the context of the CARS 21 process to accompany the common crisis response. |
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| Source Link | Link to Main Source http://www.euractiv.com/en/transport/commission-warns-economic-nationalism/article-179761 |
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| Subject Categories | Business and Industry |
| Countries / Regions | Europe |
