Euro-Zone Group Leader Urges Look at Ways of Supporting Europe's Auto Industry

The euro zone countries are working to coordinate efforts to help Europe's auto industry along the lines of expected U.S. aid for its car sector, the Luxembourg Prime Minster said. He, who is also president of the Eurogroup, representing the 15 European countries that use the euro currency, told French radio he favors action to support the "very enfeebled" European auto sector. He said the U.S. is getting ready to bring public support for the automobile sector. They can't avoid seeing what Americans are doing, he added. He said Eurogroup members are considering how they can better coordinate different economic support plans that were launched in several countries to help the auto sector. He said they are working on it. Democratic leaders in the U.S. Congress recently asked President Bush's administration to consider expanding a $700 B bailout mainly for the embattled financial sector to include car companies.