February 12, 2012

 

UK, Germany and Sweden cool on GM calls for help

The UK, Germany and Sweden have reacted coolly to calls for $6bn (£4.2bn) of aid from US car giant General Motors.

The UK said it was still considering the details. Chancellor Angela Merkel called for a plan for GM's German Opel brand before aid could be considered.

Swedish industry minister Maud Olofsson said it was up to the US carmaker to save its Sweden-based unit Saab.

GM said that it needed billions of dollars from several governments outside the US.

A spokesman for Britain's Department for Business, Enterprise & Regulatory Reform said: "We are continuing to discuss the implications of the plan with the company, although there is no specific detail as yet on how it might affect Europe, and how we can continue to help GM in the UK."

In a separate development on Wednesday, Volkswagen said it had received two billion euros ($2.5bn) from Germany's bank rescue fund to improve the availability of credit for car loans.

Source: BBC News

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