Fiat CEO Urges End to Until-We-Die Europe Austerity Measures

Fiat SpA Chief Executive Officer Sergio Marchionne spoke out against deeper budget cuts in Europe as Renault SA CEO Carlos Ghosn urged government spending to revive the region’s anemic sales, which he forecast won’t recover for another three years.

“At this point, austerity doesn’t work, the impact on Italian consumers is catastrophic,” Marchionne said yesterday at the Geneva auto show. “I understand austerity, but we can lose weight until we die.”