FOTA and FIA meet in Monaco on Wednesday

This afternoon an important meeting with representatives from FOTA and FIA will be held in Monte Carlo. On the agenda: analysing the proposals from the teams, which were voted for unanimously at the last FOTA meeting in London on 4th December.

These proposals are several measures to significantly cut costs as of the 2009 season, a very delicate year for Formula One, considering what's happening around the world, while these proposals outline very precisely how to further cut costs in the years 2010 and 2011.

Ferrari is satisfied with the harmonious relationship between the teams, which is fundamental for reaching an agreement as far as issues of this nature are concerned, whilst keeping intact the distinctiveness of a sport such as Formula 1, which has to remain a technological and sporty competition between its participants. Therefore the concerns, expressed by the Company's administrative board during its meeting last week, are reduced.