Germany Doesn't Need EU Approval for Opel Funds
text size: A- A+
A document published by Dow Jones Newswires revealed that such a financial package would be still closely analyzed by the European Commission, even if the approval is not needed in this case.
"As in all important cases under the temporary framework, the possible financing will be discussed intensively with the commission," it is mentioned in the document according to just-auto.com.
Other interesting facts revealed by the documents are the job cuts planned by Magna. Both the Canadian - Austrian partsmaker and its Russian ally Sberbank intend to cut 10,900 jobs in Europe, with Germany accounting for 4,100 of them. The Antwerp plant is still in doubt, as the documents are mentioning it "may" be closed.
And speaking of job cuts, European workers have already started protesting against Magna's planned job cuts. In Spain for instance, employees marched alongside business owners and politicians as the new Opel owner aims to cut around 1,700 jobs at the local plant. Furthermore, German workers repeatedly expressed their disapproval regarding the job cuts, claiming they could even travel to Belgium to support their local colleagues at the Antwerp plant.
UP NEXT: Seat Exeo Gets Two New Engines Tip: navigate with ← and →
OPEL cars we've tested
all testdrives →