EUROPE FEARFUL VW COULD TRIGGER FURTHER SLUMP

Following the resignation of Volks wagen Ceo, Martin Winterkorn over emission testing fraud at the auto giant, European governments and other stakeholders have initiated damage control.Lawyers in the UK have been inundated with phone calls from owners who want to join a class action suit against VW. Should this succeed, VW  could face bankruptcy, as over 11 million vehicles may be affected and could bring the economy of Europe to it's knees.
BMW shares prices too have been hit following reports that BMW cars also failed emission tests. The French  economy minister Emmanuel Macron warned against any over reactions that could risk the loss of jobs, saying that there was no evidence to show that the French car makers Renault and Peugeot are guilty of fiddling their emission tests.

“At the moment it seems to be restricted to VW, due to the pressure of the market and the pressure they put themselves under.
“We have to be careful that just because somebody lied we don’t kill all the others. We have to be careful that we don’t put at risk a lot of jobs because of the misbehaviour of one player.”

He said these while speaking at the French embassy in London ahead of an investment conference. Meanwhile, Winterkorn (Former VW Ceo) has a retirement pot of 28.6 million at the end of last year and according to it's annual report, there are no indications that the company can withhold it. He was Germany's second highest paid Ceo last year earning 16.6 million euros  from the company and majority shareholders of Porshe. As it is,VW is searching for a new Ceo, if you are qualified just contact me.