[Tstag]

The EU is allegedly backing a much bigger financial package for Opel. BUT Opel have been told that to qualify not a cent must go to the US parent company. In addition any money GM took out of Opel must be repaid in full. I believe the Germans think GM owe Opel 2 billion dollars.

The thinking is that the German Gov't is planning a takeover by the back door. In essence they will loan Opel billions of dollars but they will want Opel to provide securities. Then they will insist on getting the 2 billion dollars back. If GM is unable to pay up the Germans government will seize control of Opel and probably flog it to BMW or Daimler who both need to reduce their co2 emmisions across their range of cars. It's unusual for the EU to back state aid, it's even against their own rules. But the EU apparantly wants to "protect strong companies" like Opel (by making them European). So you see the political pieces are being manouvered into position now....