The German government yesterday vetoed the 1.1bn euro loan guarantee it had agreed to provide General Motors in a move which could have repercussions for Vauxhall workers in the UK.
Rainer Bruederle, Germany’s economy minister with an anti-state aid stance, announced the backtrack yesterday, saying: “I’m convinced GM has sufficient financial resources.” The decision has been made 48 hours after Germany, in Britain’s vein, unveiled an 11.2 billion euro fiscal savings programme. “GM is naturally very disappointed with this decision as is Opel after such…
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