Peugeot Citroen to get €7-billion bailout

France will provide carmaker Peugeot Citroen, a €7 imagebillion ($9.1 billion) bailout package.

Why this move?

The government in France wants to rein in rising unemployment. In return of this rescue package the government is expected to demand a reduction in layoffs. The car-making sector is also critical to the French economy.

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