European leaders seek to aid auto industry

Thursday, June 07, 2012 Industrial

Europe's ongoing financial struggles are having a major impact on a number of different sectors. As the struggles continue, leaders from the region have been trying to formulate a plan to keep vital industries afloat.

Agence France Presse reports that European Union Industry Commissioner Antaonio Tajani announced that the EU had come out with a plan to pour new funds into ensuring the viability of the auto sector. One of the ways that leaders are hoping to make these improvements is by easing trade barriers and putting new funds into green technology development. The added money will likely result in many new positions opening up, as companies need to fill necessary roles. 

"Trade relations should deliver reciprocal benefits," said Sergio Marchionne, the head of Fiat, according to the source. "However, the EU always appears ready to compromise on these conditions as experience has shown with South Korea and other examples."

In the United States, some firms announced plans to ramp up hiring, offering positions to those in need of employment. In April, USA Today reported that Hyundai received 18,500 applications for just 877 available positions.

 

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