As expected after last week’s announcement, on Saturday, Italian Prime Minister Mario Monti met with Fiat CEO Sergio Marchionne and the company's Chairman and heir to the Agnelli family empire, John Elkann, to discuss the automaker’s future in the country.

The meeting was arranged after rumors surfaced that Fiat, which is expected to lose around €700 million (US$904.5 million) this year due to a sales slump in the European market, is considering closing some of its plants and moving production out of Italy.

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