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...relieved that at the last minute Opel and GM Europe were ring-fenced from the Chapter 11 bankruptcy in the U.S.," Klaus Franz, the head of Opel's works council tells TIME. "Of course I'm also worried about my U.S. friends, but I'm happy the bridge financing plan for Opel has worked out and all GM's European assets have been guaranteed," he says. But despite the German relief, major sacrifices among GM Europe's 55,000 workforce are unavoidable in the coming months. (See pictures of General Motors Factory-scapes...

Author: /time Magazine | Title: Merkel Saves Opel From GM's Fate | 6/1/2009 | See Source »

...trade unions in other European countries are concerned the new investor Magna, along with its Russian partners, will protect German jobs at the expense of other jobs. "There are going to be more tough negotiations with GM Europe and Magna," says Klaus Franz, the head of Opel's works council. "A very stony road lies ahead of us. Jobs will be cut, but we hope we can prevent forced redundancies and plant closures," he says. (See the 50 worst cars of all time...

Author: /time Magazine | Title: Merkel Saves Opel From GM's Fate | 6/1/2009 | See Source »

Amid the nervous laughter of his aides and reporters, Berlusconi, a Cheshire-cat grin widening across his face, brought up the question himself about le minorenni following the weekly meeting of the Council of Ministers in Rome. No, he insisted, there was nothing piccante (spicy) or "more than piccante" in his encounters with anyone underage, and he'd sworn so on the heads of his own children. Berlusconi insisted that he would have "resigned immediately" if he had been guilty of any of the aforementioned spiciness with someone under the age of consent. That, he said, was all he would...

Author: /time Magazine | Title: Berlusconi and the Girl: No Spice, Thank You | 5/29/2009 | See Source »

...been the host and chief promoter of the so-called six-party talks. Their explicit goal: to get North Korea to give up its nuclear-weapons program. When the North launched another long-range ballistic missile in early April, Beijing helped promote the fig leaf at the U.N. Security Council that the rocket carried a communications satellite and thus might not be a direct violation of two U.N. resolutions calling on Pyongyang to cease its nuclear and ballistic-missile programs. The result was a toothless "presidential statement" from the Security Council. Now, with the test of another nuke...

Author: /time Magazine | Title: China Gropes for a Response to North Korea's Nukes | 5/28/2009 | See Source »

...road by negotiating endlessly within the six-party talks were, with Washington's support, minimal. But now Beijing has plainly lost face; as Romberg says, it has probably been humiliated by Pyongyang. That's why diplomats in the region say there may be hope that the U.N. Security Council might seriously up the ante. Beijing's initial, tepid reaction to Monday's blast - waiting several hours before issuing a statement "condemning" the test - has been toughened, and discussions at the Security Council about possible sanctions are now under...

Author: /time Magazine | Title: China Gropes for a Response to North Korea's Nukes | 5/28/2009 | See Source »

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