Berlin starts to mimic French industry policy

The steepest and most brutal downturn in Germany’s postwar history is forcing the Germany government to 'get its hands dirty' in dealing with the challenges. Since October, Berlin has launched a €500bn rescue package for the banking sector. It has engineered bail-outs of IKB and HRE, two lenders. It is heavily involved with deciding the fate of General Motors's European operations (including Opel in Germany).

The Opel precedent is drawing copycat requests. Large companies that have applied for government help include Arcandor, a large and troubled retail group, and Porsche, the debt-ridden carmaker.

ESO: Background information: Fiat in last-minute revised takeover plan for Opel http://www.europeansources.info/record/fiat-in-last-minute-revised-takeover-plan-for-opel/

Deutsche Welle, 23.5.09: Opel's fate to be decided within the week http://www.dw-world.de/dw/article/0,,4273628,00.html

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