Germany blames US on failure of Opel rescue talks

Talks aimed at saving General Motors Europe’s Opel unit broke down amid acrimony between Germany and the US...

• Written by AFP
• Berlin | May 29, 2009 12:26 AM IST
1 min read

Talks aimed at saving General Motors Europe’s Opel unit broke down amid acrimony between Germany and the US on Thursday as fears mounted for tens of thousands of jobs across Europe. The marathon negotiations were aimed at finding a suitable buyer for GM’s struggling European operations,with the German government willing to offer billions of euros (dollars) in loan guarantees to any potential investor.

But at the last minute,GM and the US said they needed an extra 300 million euros in temporary loans from Germany to keep Opel afloat.

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