A condition however that no part is appeal

Uncertainty continues for Fiat. The project of the Italian group to create a new global automotive giant is suspended the decision of the German Government on the future of Opel and the verdict of the Court of bankruptcy on the fate of Chrysler. Two crucial decisions that are expected. Yesterday, Fiat boss Sergio Marchionne, departed the United States, after the negotiations that took place in Berlin on the night of Wednesday to Thursday without having led. In Europe, the Italian manufacturer is still in the race with the Canadian Magna for the resumption of Opel, while holding RHJ International is now out of kilter. A fourth nomination, the China automobile group Baic, also seems to have been eliminated.

The German Government should designate Wednesday evening the buyer Opel. But after more than eight hours of discussions with the candidates, Ministers of the great coalition came out of the Chancery in the middle of the night without a solution for the European subsidiary of General Motors and the deadline has been extended until today. The fault, according to them, to the US authorities, who requested additional assistance of EUR 300 million in last minute. The Government has already adopted the principle of a 1.5 billion credit guarantee last week. "It was a strange night, because early in the evening we have been confronted with new figures," commented the Minister of Economics Karl-Theodor zu Guttenberg. He found that "the attitude of the officials of General Motors is unsatisfactory". Finance Minister Peer Steinbrück spoke on the side of "surprises and disappointments."

The eye of Brussels

An attempt to win the last, Magna proposed to advance this amount, provided that the Federal Government provides a guarantee. Peer Steinbrück has considered this proposal "very attractive". But the promises made by the candidates for the continuation of Opel will also have to respect the rules of European competition. The Ministers of economy or industry of all European countries were invited to a meeting in Brussels this afternoon. The European Commission wants to ensure equality of treatment of the different countries in this folder. "You cannot have a situation where State aid is conditioned, for example, closures of plants in a country rather than in another", she recalled yesterday. According to the "Financial Times Deutschland", the European Commission could impose a decline in capacity of Opel of at least 30 in exchange for his agreement for the allocation of public guarantees, as it has done for the banks helped by the State.

For Fiat, the future is here at the same time across the Atlantic. New York Bankruptcy Court yesterday continued the hearing of witnesses began the day before in the Chrysler case. Judge Arthur Gonzalez is responsible for validating or non-plan for the restructuring of the group led by Washington. In downstream of Justice, Chrysler, which filed its balance sheet on 30 April, could emerge from bankruptcy before even the end of sixty days under the accelerated procedure for judicial relief. A condition however that no part is appeal.

According to the plan submitted to the judge, a "new" Chrysler must be formed from the healthy assets of the current group. This healthy Chrysler shed much of its debt, would be between the hands of a consortium held in a first time to 20 by Fiat (35 term), 55 by a social fund to trade union management, and 10 by the American and Canadian Governments. Other assets would be kept in "the former Chrysler", and then liquidated under judicial control, which could take years.