Euro zone countries are working to coordinate efforts to help Europe's auto industry along the lines of expected US aid for its car sector, Luxembourg Prime Minster Jean-Claude Juncker said on Monday. -- PHOTOL ASSOCIATED PRESS
PARIS - THE euro zone countries are working to coordinate efforts to help Europe's auto industry along the lines of expected US aid for its car sector, Luxembourg Prime Minster Jean-Claude Juncker said on Monday.
Mr Juncker, who is also president of the Eurogroup - representing the 15 European countries that use the euro currency - told French radio that he favors action to support the 'very enfeebled' European auto sector.
'The United States is getting ready to bring public support for the automobile sector,' Mr Juncker told France-Inter. 'We cannot avoid seeing what the Americans are doing.'
Mr Juncker said Eurogroup members are considering 'how we can better coordinate different economic support plans that were launched in several countries' to help the auto sector.
'We are working on it.'
Democratic leaders in the US Congress this weekend asked President George W. Bush's administration to consider expanding a US$700 billion (S$1.04 trillion) bailout mainly for the embattled financial sector to include car companies. -- AP
