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EUROPE: "Germany: Alternative Investment Fund Manager Directive Proposed Cross-Border Rules in Germany" report. 22-page report by Baker & McKenzie.
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backEUROtalk July, 2012
Europe needs car Tsar to lead output slash, head-off national bailouts
Europe’s chronically loss-making car industry needs a “car Tsar” along U.S. lines to force closure of a quarter of its capacity, according to a report from investment bank Credit Suisse. If this doesn’t happen, Europe’s car makers will be kept afloat by national governments and long-needed reform will be put off again.
The bank nominates former Ford Chief Financial Officer Lewis Booth to take on this poisoned chalice. There is no word so far whether Booth likes this idea.
Credit Suisse said Peugeot-Citroen of France is the most vulnerable of European mass car manufacturers, saying $5.8 billion of cost-cutting measures have so far failed to halt cash outflows, as sales sink and discounting costs rocket.
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Source: The Detroit News - GAI
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