Germany Merkel Won't Necessarily Present Opel Plan By Mar 31
March 20 2009 - 7:21AM
Dow Jones News
Germany's Chancellor Angela Merkel won't necessarily present a
bailout plan for General Motors Corp.'s (GM) German unit Opel
during her visit to Opel's headquarters in Ruesselsheim on March
31, a government spokesman said Friday.
We are dealing with the issue with the utmost urgency but we
need to assess all the information before a decision is made,
government spokesman Thomas Steg told reporters.
"We won't pressure ourselves in the decision-making process," he
added.
The German government is examining whether to financially
support Opel, which has some 26,000 employees in Germany, in the
form of guarantees or loans. GM is trying to stave off insolvency
at its European operations Opel, Vauxhall and Saab.
Merkel's visit has been planned since last year, Steg said. She
will meet with company officials and Opel employees during her
visit.
Steg said a reliable and viable long-term plan is the
precondition for government help as well as securing jobs.
-By Andrea Thomas, Dow Jones Newswires; +49 (0)30 2888 4126;
andrea.thomas@dowjones.com