Word: germanize
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...state aid. In return, GM say they will restructure Opel by cutting costs and loosening the company's ties with the parent company in Detroit. Opel would become an autonomous legal entity, half of which could end up in the hands of private investors. The question is: should German taxpayers help out America's biggest carmaker...
...cost-cutting plans have terrified Opel's 26,000 workers in Germany. Over the past month, rumors of mass layoffs and plant closures have been swirling in the German media. Union leaders are clamoring for a quick decision on the bailout. But Chancellor Angela Merkel's government wants guarantees that any cash that it doles out will not flow back to GM's embattled operations in the U.S., or go down the drain if GM goes bust. (Read a TIME story on Germany's auto industry...
...four weeks ago. At 37, he's the youngest economy minister in Germany's post-war history and already he's being hailed as one of the country's most popular politicians. With his slicked-back hair, and boyish good looks, Zu Guttenberg exudes the one thing which most German politicians lack: charisma. Unlike his predecessor Michael Glos, a 64 year-old political veteran who shied away from the cameras, Zu Guttenberg has gone on a major media offensive...
...need all of that slickness and more. Germany is stuck in its worst recession since WWII and exports are plunging. The young politician was elected to the German parliament just seven years ago representing the conservative Christian Social Union (CSU) party, which is aligned with Chancellor Merkel's party. A fluent English speaker, he soon made a name for himself in parliament as a foreign policy and defense expert. But it wasn't until last fall, when the CSU went into meltdown after suffering big losses in the Bavarian state elections that Zu Guttenberg was thrown into the spotlight. Last...
...unfair to blame Germany for holding everyone back," says Elmar Brok, a German member of the European Parliament with Merkel's conservative Christian Democratic Union. "We are already doing a lot at home, both federally and at state level. And we are doing it differently to the U.S., because we have made a lot of bank guarantees. But we also need to think about repaying our debts. Who will do it? The next generation...