French President Nicolas Sarkozy said on Thursday the state would put “a lot of money” into the struggling car industry.
“We are working with the car sector, car makers and their suppliers, to get out of this situation and to finalize a plan by the end of January,” Mr. Sarkozy said.
“That means that we will be ready to give the necessary support, in the form of loans or guarantees, to compensate for the blockage in the financing of companies…but we will clearly ask them for an end to offshoring, and even the reinforcement of their activities in France,” he said.
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