Berlin was the last to swerve in the long-running game of chicken it has been playing with General Motors over the future of its European operations. After an initial rebuff, GM’s board on Thursday came back to accept Germany’s preferred option of selling most of Opel and Vauxhall to Canadian auto supplier Magna and its financial partner, Russia’s Sberbank.

German politicians may breathe a sigh of relief: they can now face voters in elections at the end of the month claiming to have rescued jobs at German car factories. Voters should be more worried. They will pay a high price – fiscally, economically, and politically – for short-term peace of mind.