EU Commissioner Calls for Summit to Save Opel

Der Spiegel | Mar. 5, 2009 (News Report)
A European Bailout?:

European Union Industry Commissioner Günter Verheugen is calling for a European summit to come up with a rescue plan for German car maker Opel, which is faced with collapse if it doesn't find an outside investor or get government aid.
He suggested a meeting of ministers from the EU states with auto factories run by GM Europe's Opel and Vauxhall subsidiaries, which include Germany, Belgium, Britain and Spain.
Meanwhile the German government, ... Full Story »

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 by Peter Barnett - Mar. 5, 2009

It's factual and to the point

Vauxhall owner GM Europe is to ask the British Government for a £440m lifeline in return for an equity stake in the company, according to Sky sources.

£440m – no problem we’ll just run it off with the £75Bn we’re printing

Sarkozy has made protecting France’s iconic industries the central plank of his supply-led plan to ride out the global economic slowdown, but he will have to tread carefully to avoid triggering a row over protectionism. Already last week, he angered Eastern European governments by suggesting in a television interview that Peugeot should close a plant in the Czech Republic and bring production home to France, where many factories are under threat.

Protectionism is inevitable – at least Sarkozy is honest about it

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