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| Version 1 | Version 2 |
|---|---|
| Berlin rules out saving Opel jobs | Berlin rules out saving Opel jobs |
| (about 16 hours later) | |
| Germany's economy minister has said the government couldn't afford to spend all the money required to save every threatened job at carmaker Opel. | Germany's economy minister has said the government couldn't afford to spend all the money required to save every threatened job at carmaker Opel. |
| With Fiat continuing talks to buy Opel from General Motors, the Italian firm has already warned that one Opel plant in Germany will likely close. | With Fiat continuing talks to buy Opel from General Motors, the Italian firm has already warned that one Opel plant in Germany will likely close. |
| Fiat wants loan guarantees from the German government to secure the deal. | Fiat wants loan guarantees from the German government to secure the deal. |
| Karl-Theodor zu Guttenberg said the government "had an obligation to deal responsibly with taxpayer's money". | |
| 'Questions remain' | 'Questions remain' |
| The comments of the economy minister came in an interview with German magazine Der Spiegel. | The comments of the economy minister came in an interview with German magazine Der Spiegel. |
| I'm a little bit scared about the situation now Fears growing at threatened plant | I'm a little bit scared about the situation now Fears growing at threatened plant |
| He added that he remained open to both Fiat's bid, and the lesser interest expressed by Canadian car parts business Magna. | He added that he remained open to both Fiat's bid, and the lesser interest expressed by Canadian car parts business Magna. |
| "Both concepts, both Magna's and Fiat's, still include open questions that need to be cleared up," said Mr zu Guttenberg. | "Both concepts, both Magna's and Fiat's, still include open questions that need to be cleared up," said Mr zu Guttenberg. |
| "For the time being, I view both concepts with the same openness and scepticism." | "For the time being, I view both concepts with the same openness and scepticism." |
| General Motors has a deadline of 1 June to successfully restructure its loss-making group-wide business, or else it will likely need to go into US bankruptcy protection. | General Motors has a deadline of 1 June to successfully restructure its loss-making group-wide business, or else it will likely need to go into US bankruptcy protection. |
| While this will enable it to continue trading while protected from its creditors, it may complicate any sale of Opel, and UK sister brand Vauxhall, to Fiat. | While this will enable it to continue trading while protected from its creditors, it may complicate any sale of Opel, and UK sister brand Vauxhall, to Fiat. |
| Mr zu Guttenberg said that to prevent any difficulty, he said he was proposing that ownership of Opel be temporarily handed to a trustee. | Mr zu Guttenberg said that to prevent any difficulty, he said he was proposing that ownership of Opel be temporarily handed to a trustee. |
| 'Big fears' | 'Big fears' |
| Opel employs 26,000 people in Germany, nearly half the total European workforce of the wider GM Europe group. | Opel employs 26,000 people in Germany, nearly half the total European workforce of the wider GM Europe group. |
| The factory at risk of closure if Fiat's bid is successful, is the Opel engine plant at Kaiserslautern in Rhineland-Palatinate. | The factory at risk of closure if Fiat's bid is successful, is the Opel engine plant at Kaiserslautern in Rhineland-Palatinate. |
| It is vulnerable because Fiat already makes the same engines at one of its factories in southern Italy. | It is vulnerable because Fiat already makes the same engines at one of its factories in southern Italy. |
| The state premier of Rhineland-Palatinate said on Friday that his fears for the future of the factory were now "very, very big". | The state premier of Rhineland-Palatinate said on Friday that his fears for the future of the factory were now "very, very big". |
| His comments came after a meeting with Fiat chief executive Sergio Machionne. | His comments came after a meeting with Fiat chief executive Sergio Machionne. |