Sonntag, 22. März 2009

Opel and German politics

One bizarre aspect of the current government coalition is that various cabinet members openly disagree on just about everything:

Now the labor minister (SPD) has said that not only is he "not afraid" of the government directly investing in Opel as a major shareholder (because Opel has "good perspectives"), but he even thinks "letting Opel die is more than a mistake, it would be inexcusable government failure". And why? Because someone would have to fund Opel's pension liabilities in case of bankruptcy, and that would undoubtedly be much more expensive than bailing out the company.

Yeah, right. He really has an in-depth grasp of the issues.

(Leaks from the economics ministry have apparently confirmed that there is not a single private investor in sight who is interested in Opel. And GM has stated that it will not invest a single cent in its European operations. Sure, considering GM's finances...)

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