Ottawa to deliver $3.5B auto aid package: CTV

[cal04]

Source: CTV.ca News Staff

The Canadian government will provide a $3.5 billion lifeline for the Canadian auto sector, a move which aims to soften the blow of the economic downturn and preempts an American bailout plan, CTV News has learned.

The announcement follows a meeting Friday between Prime Minister Stephen Harper and Ontario Premier Dalton McGuinty in Ottawa where the two leaders hashed out a plan.

However, the fund falls short of the nearly $7 billion package which Ford, GM and Chrysler requested earlier this month.

Meanwhile, the White House said Friday it may tap into the US$700 billion banking fund to stop the "precipitous collapse" of the auto industry, a day after the Senate shot down a lifeline for the fading Detroit Three companies.

Read more: http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/200...

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Canada under increasing pressure to release auto aid package on its own
http://www.canadianbusiness.com/markets/headline_news/a...

[Bozita]

1. Sweden bailed out Volvo and Saab the other day.

Hear that, Corker?

[BunkerHill24]

2. Oh dear! Stevie is in whole hot of water,,,n/t

[No Elephants]

3. How does aid from Canada to the Canadian auto sector "pre-empt" America's loan to America's auto

sector?

[sarcasmo]

4. Other Countries understand the severity of this situation.

Republicans, WAKE THE FUCK UP!