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An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Italy gave the green light Wednesday to providing a state guarantee for a 6.3-billion-euro ($7.1 billion) loan to Fiat Chrysler as the automaker struggles with the impact of the coronavirus pandemic. The loan, which reportedly includes conditions not to relocate or cut jobs as the firm merges with French rival PSA, is "an operation that aims to preserve and reinforce the Italian auto industry," Economy Minister Roberto Gualtieri said in a statement. He said the loan would also help launch "investments, innovation and employment in a strategic sector for the economic and industrial future of the country." The request for state support on such a large loan has proved controversial, particularly with the company's corporate headquarters being located in Amsterdam. FCA -- which directly employs close to 55,000 people in Italy -- has said the loan is essential to help the group's Italian operations and the whole industry to weather the crisis triggered by the pandemic. The loan from the Intesa Sanpaolo bank, which will benefit from an 80 percent state guarantee, comes with strings attached, and Gualtieri said the government will check that Fiat keeps its promises. No details were provided on those promises, but according to Italian media the company has pledged not to cut or transfer jobs before 2023. Fiat Chrysler declined to comment on the conditions to obtain the loan guarantee. The Italian-US carmaker, which also includes the Jeep, Maserati, Alfa Romeo, Dodge and Ram brands, is trying to merge with PSA of France, which holds the Peugeot, Citroen, DS, Opel and Vauxhall marques, in order to become the world's fourth-largest automaker. EU regulators are looking into the impact of the merger on competition for vans, which could delay the merger. cco/rl/dl
schema:headline	Italy approves guarantee for 6.3-bn-euro Fiat Chrysler loan
schema:mentions	Intesa Sanpaolo Citroën Opel Groupe PSA Dodge Jeep Industry Italy European Union Pandemic France Severe acute respiratory syndrome coronavirus 2 DS Automobiles Vauxhall Motors Loan guarantee Gualtieri Maserati Roberto Gualtieri Alfa Romeo Conditionality Fiat Chrysler Automobiles Euronext
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-06-24 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	82 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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