Hey GM! The German Government Wants Their Money Back!

Miscellaneous | Dean | November 5, 2009 at 01:39

General Motors has decided that they will indeed keep the Opel brand, and this has sadly upset the German government. The government has now said that they want their 1.5 billion euro loan back, and the GM company will have to pay for it.

German Economy Minister Rainer Bruederle said that the change of mind regarding the Opel brand is totally unacceptable.

“We will the get the taxpayer’s money back,” Bruederle told reporters in Berlin according to a report by Reuters.

Alongside the decision to keep the brand, GM are now hoping that all European countries with plants will also help out with cash-flow.

“We are not in a position to detail the financing publicly at this point,” a GM Europe spokeswoman said on Tuesday. “The plan is to secure the bulk of financing from European loan guarantees,” she said. “The restructuring of Opel for long-term sustainability requires involvment and support from all stakeholders including employees and governments.”