Opel: Brdelerle Denies Government Aid

Bertel Schmitt
by Bertel Schmitt

So today’s the day when the fate of Opel was to be decided – according to plan. The committee met today – and decided to decide nothing. They couldn’t come to a conclusion. They handed the decision to Minister Brüderle. Brüderle’s decision: Nein. No government money to Opel, reports Focus. There still is a glimmer of hope for Opel …

Tomorrow, Thursday, Chancellor Angela Merkel will have a sit-down with the premiers of the Opel states. They will discuss alternatives.

As far as Opel and GM are concerned, there aren’t many alternatives. It’s either government money or not. Opel states and unions think that without government money, three out of four Opel plants in Germany will have to be closed. It could shutter all of Opel.

Even with a loan guarantee, Opel wouldn’t get the money, says the Financial Times Deutschland. The government usually guarantees for 90 percent, the remaining 10 percent of the risk are with the banks. No bank wants to carry that risk. Banks ask GM to cover the risk in cash.

A possible work-around would be the European Investment Bank (EIB). However, an EIB loan would also necessitate government guarantees. Opel would have to front the money first. The loan would also be limited to development projects such as electric cars. It would most likely attract the interest of Brussels. Maybe that’s what Berlin wants to get rid of the hot potato.


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  • Daanii2 Daanii2 on Jun 10, 2010

    I'm pretty sure Germany will eventually pay.

  • Tricky Dicky Tricky Dicky on Jun 10, 2010

    Rob Finrock -> GM's name is on Opel's title deeds. It's an American business situated in Europe. What you say is a bit like a father saying that he has no responsibility for the upkeep of one of his children, because the child resides in another state. Daanii2 - would love to know the basis for making such a statement.

  • VoGhost I don't really care about sub-branding. I care about great product. GM should focus less on the branding and more on the great product part of the equation. Barra was appointed CEO on the premise of 'no more boring cars'. It hasn't worked out that way.
  • 28-Cars-Later Tim - I seriously did not log in just to complain but this site is completely jacked up now from a website design perspective. I always whitelisted for ten years but I had to turn on No Script because its just so horrible now, and with it on the layout looks even worse. I'm truly stunned by the callous design choices coming from on high, just wow.
  • 28-Cars-Later Corey I need talked down here:https://pittsburgh.craigslist.org/cto/d/pittsburgh-1999-cadillac-eldorado-etc/7561280135.htmlI talked to the seller, he said his father had it sent to a specialty shop to had the head bolts done which is the main design flaw in these. I need another car like I need another hole in the head... still...
  • Lou_BC The birfield joints on these older units tend to need a rebuild and are very expensive to replace.
  • Luke42 I'm only interested in the electric models.I own a 6L GM V8 (in a pickup truck), and it's a big sound and fury for small delta-V.A bunch if E-Vettes which reflect the Porche range would be interesting,.
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