Financial Times FT.com

Europeans lobby for larger share of $25bn carmakers' 'bail-out'

By Richard Milne, John Reed and Daniel Schäfer in,Paris

Published: October 3 2008 03:00 | Last updated: October 3 2008 03:00

German carmakers are lobbying the US for wider access to the $25bn in low-cost loans for the domestic motor industry approved by Congress last week, in a re-run of the debate over the financial rescue plan.

While the aid package does not specifically exclude foreign carmakers, one European executive said it was "clearly a bail-out" of the Detroit-based industry.

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