World : France to Put $2 Billion Into Renault
The government has decided to proceed with a $2-billion capital injection for Renault, the state-owned auto maker, the Industry Ministry announced today.
The announcement was the latest development in a dispute between France and the European Economic Community over France’s plans to make Renault solvent by easing its debt burden. The EEC’s executive commission wants Renault operated as a normal company rather than a government authority. The French agree but want to make sure they can continue to finance the company.