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Europe Tells Italy to Recoup R&D Loans

By James T. McKenna | March 11, 2008

The European Commission wants Italy to recover 450 million euros ($696.2 million) in loans for aeronautical research and development projects made mainly to the aerospace group Finmeccanica, parent of AgustaWestland, and engineering firm Avio, according to the Reuters news service and other news reports. The commission ruled the zero-interest loans violated European Union laws and directed Italy to recover the money within two months.

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