I’ve got your unresolved emissions issues for you right here, pal.
But what’s $48 billion to Volkswagen? Wait a minute. Actually, wow. That’s quite a bit.
Remember when Germans used to be greener than green?
Although such U.S. lawsuits are typically settled at a fraction of the theoretical maximum penalty, analysts said the size of the claim meant Volkswagen (VW) could face a larger bill than previously anticipated.
“It’s ugly, but it gets you there.” But it’s ugly. And it’s getting uglier by the minute.
The timing of the scandal could not be worse for the government.
Chancellor Angela Merkel is scheduled to travel to New York on Friday to persuade fellow members of the United Nations to adopt climate goals ahead of a UN climate conference in Paris in December.
Merkel sees herself as champion of climate issues and would like to see Germany’s decision to abandon nuclear power and the transition to renewable energy as one of her most lasting legacies.
In June, she helped draw up ambitious carbon emission reduction goals adopted by the Group of Seven (G7) countries.
At the same time, she has always robustly defended the interests of her country’s automakers and postponed the implementation of European emission limits.
Observing Hermann 