Currently reading: Germany rejects Opel-Vauxhall aid
German economy minister Rainer Bruederle has rejected a request for government aid

German economy minister Rainer Bruederle has rejected a request for government aid by General Motors for Opel-Vauxhall.

Opel had been seeking loan guarantees totaling 1.1 billion euros (£830m) from Germany, where it has four plants.

Bruederle said he felt GM can afford to cover the costs itself because it has about 10bn euros (£8.2bn) in free liquidity after fully paying back credits from the US and Canadian governments.

The decision undermines loss-making Opel-Vauxhall's 3.6 billion euro (£3bn) restructuring plan.

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jackjflash 9 June 2010

Re: Germany rejects Opel-Vauxhall aid

Uncle Mellow wrote:
Ditto UK aid for Vauxhall. EU does not approve of this kind of thing.

Something change since May?

Vauxhall and Opel get £270m UK loans guarantee

Uncle Mellow 9 June 2010

Re: Germany rejects Opel-Vauxhall aid

Lee23404 wrote:
Lol. Is it just me that's finding Obama more and more irritating by the day?

Think it's just you. You're probably too young to remember the days when Reagan was running the US. Frightening.....

Uncle Mellow 9 June 2010

Re: Germany rejects Opel-Vauxhall aid

Autocar wrote:
German economy minister Rainer Bruederle has rejected a request for government aid by General Motors for Opel-Vauxhall.

Well , what a shock !

Seriously , German aid for GM was never going to happen. Ditto UK aid for Vauxhall. EU does not approve of this kind of thing.