Germany’s Economy Minister Rainer Brüderle poured cold water on hopes for a quick decision on state aid for GM’s ailing Opel. GM expects $2.5b in state aid to come from European countries, most of it from Germany. But Germany, represented by Reiner Brüderle, is dragging its heels.
In February, the German government had sent GM a list of 36 questions. By last Friday, no answers had been received in Berlin, therefore, nothing had to be decided in Berlin.
Finally, the catalog of questions has come back, reports Die Zeit. Now the “Credit Guarantee Committee” (“Bürgschaftsausschuss”) of the German government will convene on Wednesday.
They will have a pow-wow, but there will be no decisions tomorrow, said Brüderle today according to Focus Magazine.
The reason for the indecision? GM omitted the answer to the quintessential question: How much money will GM contribute?
GM had promised they would contribute $2.6b, but when the questionnaire came back, there was no formal commitment.
This will go on for a long time. Or until Opel runs out of money.