Financial Times FT.com

EU to scrutinise Germany’s GM plan

By Nikki Tait and Stanley Pignal in Brussels

Published: September 16 2009 15:11 | Last updated: September 16 2009 15:11

Kris Peeters, premier of Belgium’s Flanders region, which houses Opel’s Antwerp plant, said on Wednesday that European Union regulators had promised a “very severe” examination of Germany’s plan to provide loan guarantees for the restructuring of General Motors’ Opel unit.

His comments came as concerns over possible protectionism in the planned rescue deal for General Motors’ European business continued to vex governments across the EU. There are fears that restructuring will be driven by political rather than commerical considerations.

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