France on Monday (9 February) announced €6.5 billion in loans to three national automobile manufacturers in a bid to save jobs.
President Nicolas Sarkozy announced that Peugeot-Citroen will receive €3 billion in preferential loans, as will Renault.
Renault Trucks, which, while based in France, is actually own by AB Volvo of Sweden, will receive €500 million in loans.
The negotiated quid pro quo is a pledge to keep the car factories open, maintain jobs and produce ‘green' car...
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