Word: europeanizer
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...direct state aid to companies, restrictions established to encourage more-competitive markets in Europe. "We can't have the Americans unlocking $25 billion in loans for their three manufacturers while we would be caught up in a state-assistance regime that does not allow us to help our European automakers," Sarkozy said...
...Meanwhile, the European Investment Bank is set to pledge $2.5 billion to help the continent's auto industry develop more environmentally friendly cars, according to Reuters. That support could help struggling companies stay in the race to bring greener vehicles to market during a global economic downturn. Fiat CEO Sergio Marchionne summed up the situation in simple terms: "Either [aid] is for everyone...
...Willem Buiter, a political-economy professor at the London School of Economics, says that although the infusion of capital and soft loans in the financial sector "violates the letter and spirit" of standing E.U. laws on competition, European officials are turning a collective blind eye because of the credit crisis. Still, Buiter counsels Europe against matching any eventual bailout of the Big Three with aid to its own automakers. "If the Americans want to extend the life of the dinosaurs at public expense, they are free to do that," he says. "But if I see someone else jump...
...competition commissioner, Neelie Kroes, cautioned European lawmakers against propping up domestic companies. "All governments," she said, "have to resist that." As history teaches, when attempts to protect national economic interests lead to a trade war, everybody loses...
...chief of the Refounded Communist party, which lost all its parliamentary seats in the April poll that saw Berlusconi sweep to power, quickly offered Luxuria a slot to run for the European Parliament. "Vladimir has an elevated degree of solidarity and brotherhood and at the same time is very sensitive and aware of others and their dynamics," said the ever-somber Communist leader Paolo Ferrero. "She is a very positive anthropological model, in my view." A columnist in the Communist party newspaper likened Luxuria's victory to Barack Obama...