After two months of discussions, President Sarkozy announced on Monday a 6.5 billion euro state loan plan for its two car manufacturers Renault and PSA Peugeot Citroën. The conditions for granting such loans is that manufacturers ensure that their will maintain their productions units in France.
However, both manufacturers then mentioned the probability of job cuts within their whole world structures (up to 9,000 at Renault and 11,000 at PSA Peugeot Citroën). Although they are criticized, manufacturers have finely conducted their negotiations with the Elysée because loan granted by this one are mainly conditioned to the absence of layoffs (in 2009)… but manufacturers implement what is called "Plan for Employment Protection"(1) based on voluntary departures. This allows, in fine, to benefit from the state plan while closing (possibly) production units in the future.
Has the Elysée taken this into account or is it an "omission"?
The advisors of President Sarkozy, should know how to play as finely as the two French manufacturers, so that France could justify its positions (considered protecionist by the European Commission) at the European Summit on March 1st.
Joe
(1) In French: Plans de Sauvegarde de l’Emploi
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