Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-19-Speech-3-067"
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"en.20081119.4.3-067"2
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"The world’s car industry has got into difficulties, though that is not true for all plants. Porsche has found a new way of making money, and that is to take up options to buy shares in Volkswagen. That, however, is not a solution to VW’s problems or those of other car factories.
The bank crisis has brought with it a car crisis: in a deflating economy, people cannot afford to buy new cars or the fuel to put in them. The European Investment Bank wants to rescue the car industry in the name of the EU, but we need to think again about whether the world is going to need all the capacity that is used today for producing cars. If EIB loans went towards new energy and environmental technology, that would meet the world’s real needs at the present time more successfully. The loose money which consumers used to buy new cars in recent years has gone, and it is not coming back."@en1
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