Jump to content
  • Greetings Guest!

    CheersandGears.com was founded in 2001 and is one of the oldest continuously operating automotive forums out there.  Come see why we have users who visit nearly every day for the past 16+ years. Signup is fast and free, or you can opt for a premium subscription to view the site ad-free.

Sign in to follow this  

Germany irritated by EU Opel comments

Recommended Posts

Germany irritated by EU Opel comments

February 19, 2010 10:31 CET

BRUSSELS (Reuters) – Germany is irritated by the European Commission's latest comments on state aid for Opel, deputy German Economy Minister Jochen Homann said on Friday.

The Commission said on Thursday Germany would have to decide whether to grant Opel aid without the assistance of the EU executive.

"We are slightly irritated by these comments," Homann said.

GM is asking European countries with Opel plants to contribute 2.7 billion euros ($3.7 billion) of aid toward the 3.3 billion euro restructuring. Germany alone is being asked for 1.5 billion in loans or loan guarantees.

German Economy Minister Rainer Bruederle has publicly expressed skepticism about the plan, but German states with Opel plants have been more open to the idea of using taxpayer funds to help save as many jobs as possible.

The Opel plan envisages 8,300 job cuts including 4,000 in Germany, a plant closure in Antwerp. Belgium, 20 percent capacity cuts and a return to profit by 2012.

Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20100219/ANE/302199981/1308#ixzz0fzvept8R

Share this post

Link to post
Share on other sites

Your content will need to be approved by a moderator

You are commenting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets



Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.