| Greener cars for bailout | |
 The Environmental News Network (EEN) reported on Sunday that European governments decided to put a price tag on their bailout plan for giant auto makers – they are demanding more greener cars in the future form them.
Having committed itself to cutting green house gas emissions by a fifth by 2020 as part of its efforts to curb the warming of the earth’s climate, the European Union (EU) sees the auto industry bail out as an opportunity to further this environmental goal. "Some are arguing that, given the very difficult economic situation, we can no longer afford our climate change and energy package," the president of the European Commission, Jose Manuel Barroso, said in Lisbon on Friday. "They could not be more wrong ... The consequences of ignoring the risks of climate change will be even greater than the consequences of ignoring risks from the financial sector." The recent bailout of the auto industry follows an enormous bailout plans for banks earlier this year and marks the second wave of government intervention to assist the private sector through the current economic crises.
For the full story, click on the link below: Governments name price for bailout of auto makers
Bookmark
Email this
Hits: 473 Comments
(0)
|
Subscribe to this comment's feed
Show/hide comments
