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Opel government aid still undecided


Opel government aid still undecided


Top executives from Opel and its parent General Motors leave a meeting with German government officials.

The subject of the meeting was 3.3 billion euros in state aid which struggling Opel has asked for. Any decision on that is still weeks away as Opel has to clarify its restructuring plan. The German economy minister Karl-Theodor zu Guttenberg said: “We had a good, open and constructive discussion. Let me say only this: General Motors has understood that there are still a number of open questions and they’ve agreed to answer these questions.” Reportedly the Berlin government was not impressed with Opel’s original application for state aid as it lacked a viable business plan for GM’s German division which employs around 25,000 people directly and gives work to hundreds of thousand more suppliers. The concern is that German taxpayers’ money could disappear into the financial black hole that is General Motors in the US. Economy Minister zu Guttenberg will visit the US later this month for talks with senior GM executives and US government officials.
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