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

Mon Mar 2, 2009 11:28pm GMT
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* 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 GM.N 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.  Continued...

 
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