UPDATE 2-German government won't be rushed on Opel aid

* Economy minister won't be pressured into quick decision
* Finance minister says he's seen no clear Opel plan

(Recasts with finance minister's comment)
BERLIN, March 2 (Reuters) - Germany's economy minister said
on Monday he would not be pressured into a quick decision on
state aid to General Motors unit Opel, while the finance
minister said he had not yet seen a viable plan from the firm.
Germany is considering whether to support Opel after GM
Europe unveiled a plan to spin off its German arm to try to
avert job cuts and plant closures and said it needed 3.3 billion
euros ($4.16 billion) in aid from European governments.
Finance Minister Peer Steinbrueck said Opel had not yet
provided a convincing strategy for its future.
"Big companies form the industrial basis of Germany and we
must make sure not to give this basis up lightheartedly during a
crisis," Steinbrueck told ARD television. "The precondition is
that Opel itself provides a sustainable concept."
Asked whether this plan had been provided by the carmaker,
Steinbrueck said: "The honest answer is: I can't see it so far."
But Steinbrueck said he could not rule out state aid to
Opel, adding that some 50,000 jobs were linked to the carmaker.
Economy Minister Karl-Theodor zu Guttenberg said after talks
with GM Europe's chief the government would not rush any
decision on possible state support.
"I will seek contact with the parent company to discuss
remaining open questions, and to gain an impression of where the
parent company wants to go," Guttenberg added. "I will, given my
U.S. trip in two weeks, also talk to the American government."
Chancellor Angela Merkel said on Saturday a decision on
state aid for Opel depended on the firm's long-term outlook and
on the readiness of banks to help.
Less than seven months before an election and facing the
deepest recession since World War Two in Europe's biggest
economy, Merkel is keen to save as many of the roughly 25,000
jobs at Opel's four German plants as possible.
She has said she could be open to offering financing
guarantees, depending on her assessment of the revamp plan.
German media have reported 8,000 to 11,000 jobs are at risk.
The state premiers of Hesse and North Rhine-Westphalia,
which together rely on Opel for about 21,000 jobs plus thousands
more at suppliers, said they were ready to help if they could.
The central idea of the overhaul is to split off Opel,
including the UK's Vauxhall, into a unit which would be majority
owned by its U.S. parent. Outside investors would take a stake
of more than a quarter.
Merkel is determined that no state aid could end up flowing
back to GM, itself seeking a U.S. federal bailout to stay
afloat.
(Reporting by Paul Carrel and Kerstin Gehmlich; editing by
Simon Jessop)
((paul.carrel@reuters.com; +49 30 2888 5214; Reuters Messaging:
rm://paul.carrel.reuters.com@reuters.net))
Keywords: GM OPEL/

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