(ANSAmed) - MADRID, JUNE 15 - "I do not have the slightest
doubt that Italy and Spain will eventually be able to save
themselves, but exiting from the tunnel is a very difficult
process, a huge ordeal that requires the commitment of all
European country, mainly Germany," said Fiat CEO, Sergio
Marchionne, while in Madrid to attend the annual meeting of the
European Automobile Manufacturers' Association (ACEA).
The crisis in the euro area "is not only related to the
Italian problem", according to Marchionne, but rather it
involves "how we have taken shape as a monetary unit" and should
be confronted as a whole. "The financial markets are forcing us
to solve a problem that has existed for some time," he observed.
But, "until Europe decides what it wants to do to move forward, the market will continue to stall and there is very little that can be done," he added. After a two-hour meeting yesterday with Spanish Premier, Mariano Rajoy, the Fiat CEO said that he is "more than certain that he is a very capable individual". "And, of course I confirm my support for the Monti government and the measures that it is adopting," he added. "Considering what we have inherited from the past, the choices are very limited: either we succeed in returning to the European framework with an overall balancing or Italy will never succeed on its own. The response has to be a European one". Marchionne thanked the Spanish government for the tax breaks granted for the development of the Iveco factory in Madrid, a 1.5 billion-euro investment that will directly create another 1,000 jobs, in addition to the existing 900. "Unfortunately there is not a common European policy like this," he said.
With the transfer of the production of Fiat's heavy commercial vehicles from Germany, Spain establishes itself as the group's only European hub for the production of heavy vehicles, with the factory in Valladolid - with another 1,000 jobs - which will also manufacture the Iveco Daily Van. Marchionne ruled out the possibility of a similar investment in Italy: "The project in Italy no longer exists, but thank goodness Mirafiori is doing well," he concluded. (ANSAmed).
But, "until Europe decides what it wants to do to move forward, the market will continue to stall and there is very little that can be done," he added. After a two-hour meeting yesterday with Spanish Premier, Mariano Rajoy, the Fiat CEO said that he is "more than certain that he is a very capable individual". "And, of course I confirm my support for the Monti government and the measures that it is adopting," he added. "Considering what we have inherited from the past, the choices are very limited: either we succeed in returning to the European framework with an overall balancing or Italy will never succeed on its own. The response has to be a European one". Marchionne thanked the Spanish government for the tax breaks granted for the development of the Iveco factory in Madrid, a 1.5 billion-euro investment that will directly create another 1,000 jobs, in addition to the existing 900. "Unfortunately there is not a common European policy like this," he said.
With the transfer of the production of Fiat's heavy commercial vehicles from Germany, Spain establishes itself as the group's only European hub for the production of heavy vehicles, with the factory in Valladolid - with another 1,000 jobs - which will also manufacture the Iveco Daily Van. Marchionne ruled out the possibility of a similar investment in Italy: "The project in Italy no longer exists, but thank goodness Mirafiori is doing well," he concluded. (ANSAmed).
