Volkswagen admits to falsifying pollution tests for its cars in the United States. The admission comes after evidence was provided by the U.S. Environmental Protection Agency (EPA). Eleven million cars are affected, and the company faces an $18 billion fine. Shares in Frankfurt fell 18% on the first day and 20% on the second, dragging down much of the world’s stock markets. Imports of VW diesel cars into the United States are blocked. Without the software in the control unit that falsifies the results, emissions are 20 or 40 times higher than the legal limits in the state of California, where the scandal broke.
