Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-02-04-Speech-3-269"
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"en.20090204.16.3-269"2
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"Mr President, unlike many others, the car industry does not work on the basis of speculation but rather operates on fine margins that only turn into profit if many units are sold.
Of course cars are a significant source of greenhouse gases, but it is also true that the industry, in conjunction with its support industries, is responsible for 10% of European GDP and provides 12 million jobs representing 6% of employment in the Union.
For this reason it is a very important sector for the well-being of our citizens. We cannot abandon it to its fate and to the hard and fast rules of supply and demand; these are the very reasons why we now have this crisis in the financial sector and consequently in all other sectors, including the car industry.
We must look for support solutions that respect the principle of free competition in the European Union and which offer the necessary aid to save this manufacturing sector. For this we need a European framework to ensure harmonisation across all Member States. Multi-million-dollar aid has already been approved in the United States and other places. Furthermore, some countries have adjusted their exchange rates and introduced other mechanisms to become competitive in our markets.
We must therefore not be concerned with what the rest of the world says, but rather adopt the necessary measures without further delay."@en1
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