According to Bloomberg, citing sources close to the matter, advisers are recommending GM to seek financing from countries other than Germany, a move which will allow it to retain a bigger presence in Europe.
The change of heart and direction comes as, if true, a direct result of the sales increase of both GM in its native country and Opel in Europe. Both managed to do so thanks to the government backed scrappage incentives both in the US and Europe.
As all parties rally to convince GM to make a decision no later than this week, the American manufacturer is looking out for its finances. In a last ditch effort to make GM choose Magna, Germany has offered to provide the entire 4.5 billion euro loan guarantees. Seeing nothing happens, Germany went all the way to the White House, as Germany's foreign minister Frank-Walter Steinmeier phoned US Secretary Hillary Clinton, asking for a quick resolution.
Why the hurry, you might ask? First of all, federal elections are scheduled in Germany next month and Opel has been made a center-piece of the candidates' campaigns. Secondly, next month's Frankfurt Auto Show may also be affected by the dealy of a possible sale. Not to mention the fact that Opel labor leader, Klaus Franz, warned GM to take a decision this week, or else he vowed to take "spectacular measures."
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