An approach to Barroso regarding taxpayers-backed loans for the car industry
Advocacy letter | 19 November 2008
This letter focuses on a loan proposal from the EIB for the car industry. The bank already funded companies that are producers of models with high fuel consumption while progress on improving fuel efficiency has ground to a halt. This projected loan is in no way relevant to the proposed European policy to set lower future levels of CO2 emissions. Also the loan itself is an extremely significant figure and equals 80 euros per EU citizen. At the core of the concern is the fact that it’s a "precendent that would be set by offering financial support to an industry in order to meet an environmental regulation". The loan proposal itself lacks transparency and has not given any opportunities for public debate so far.