Merkel Wants GM Opel Plan Fast

Taken a bit by surprise by the blunt announcement that "GM board decides to retain Opel," German chancellor Angela Merkel found herself with her hands tied. As it appears there's nothing anyone can do to (again) change GM's decision, all that's left to do is demand for a restructuring plan as soon as possible. Ah, and ask for the money back, of course...

"The Chancellor made clear that the German government would urge General Motors to present a new plan as quickly as possible and to repay bridge financing by the end of November," a German government spokesman said in a statement, quoted by Autonews.

The German chancellor is even said to have talked with President Obama over the phone, expressing her concern over the matter. But, as Russian Prime Minister Vladimir Putin put it, "GM did not warn anyone, did not speak to anyone... despite all the agreements reached and documents signed." Not even with the US President.

Obama was as surprised by the move as was the rest of the world. According to a White House spokeswoman, the "administration was not involved with this decision, which was made by GM's board of directors."

Back to Germany's demands, GM replied today through its CEO, Fritz Henderson, that there are enough money for the bridge loans to be repaid. The restructuring plan should follow soon, he added.

"We have the resources there to basically pay off the bridge loan and… resubmit for consideration not only in Germany but in various other countries that indicated an interest in providing resources and support."
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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