The recession n the United Kingdom has been running full blast for the past few months now like a firestorm in a dry forest. Just as in any forest fire, however, something good comes out of it for some reason, after the carnage. Picture this, before the recession began, the biggest problem the world faced was Climate Change. It seems that now, with the recession, we can kill two birds with one stone. Such is the case in the car industry in the United Kingdom these days. The sales of cars fell an extremely steep 30.5% in March and have therefore put a lot of European car manufacturers in a lot of trouble. Jaguar Land Rover and Nissan are now asking for loans from the European Investment Bank and it looks like the EIB will be approving it soon.

Jaguar Land Rover is asking for 270 Million pounds and Nissan on the other hand is asking for 360 Million pounds which includes money for their plant in Spain. Large amounts of money, I know, but the same comes with a big catch and this is something that a lot of us will appreciate. According to European Investment Bank rules, any loan should take into consideration development of new technology that would be environmentally friendly and reduce fuel emissions. This means that the loan should be applied in technology that would be protective to the environment or else the loan would not be granted. In a way, this is a form of bailout that bails us out in more than one way. The loan allows the car manufacturers to survive and at the same time be progressive as well.