Following the approved $25 billion in loans to help U.S. based auto groups, Europe’s car makers plan to ask the European Commission for a €40 billion ($55.22 billion) loan. European car makers plan to use the loan to aide them toward meeting the 2012 EU mandate that calls for the automakers to lower carbon dioxide emissions. If America will give the money, why can’t the EU? After all, it will be used to accelerate the transition to environmentally friendly cars.
According to a spokesman for the automaker, "All European car makers agree on the [€40 billion] demand." Shocking.