Word: merkel
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...Fritz Henderson phoned Chancellor Angela Merkel's office Thursday to seal the deal. The decision to sell Opel and Vauxhall to Magna is a coup for Merkel who has staked her credibility on the bid, a joint offer from the Canadian car-parts manufacturer and Russia's state-owned Sberbank. Since May, Merkel and the German government have thrown their weight behind Magna's offer, arguing that Magna already had extensive experience in building autos. Berlin also likes the fact that the Magna bid will keep open Opel's four factories in Germany, thus saving more jobs there than rival...
...hastily arranged news conference on Thursday afternoon, Merkel, an often serious, even dour leader, was overjoyed when she broke the news. "I am exceptionally happy about this decision, which is along the lines of what the government wanted," she said. "It's clear the patience and determination of the government paid...
...Merkel's government announced it would bankroll the Magna bid in May, pledging $2.1 billion as a bridge loan to keep Opel afloat, as well as $4 billion in future loan guarantees. The German government also made it clear it wouldn't stump cash for any other bidder. Some politicians accused Merkel of "blackmail" and warned that her government's support for Magna could backfire. Initially, GM had serious reservations about Magna's offer and seemed to favor a rival bid by the Belgian-based investor, RHJ International. One GM official said RHJ's offer was "simple and elegant...
...Although the report does not mention them by name, it clearly targets French President Nicolas Sarkozy and German Chancellor Angela Merkel, who have both said that Turkey can never be allowed to join the E.U. The two leaders came to power after the E.U.'s unanimous decision in 2004 to formally start accession talks with Turkey. But they instead talk of Turkey having a "privileged relationship" with the E.U. rather than full E.U. membership. (Read "Target Germany: A Second Front in Afghanistan...
...just play-acting relaxed," says a senior Social Democrat. An awkward performer in an age of remorseless media, Westerwelle's fierce ambition for himself and his party is permanently in conflict with his natural reticence. He quietly confirmed his homosexuality five years ago by turning up at Merkel's 50th birthday with his partner. He is not drawn to identity politics, he later told an interviewer, citing a cartoon strip that depicts a gay couple in a café as best capturing his attitude. "First of all, we're gay, and secondly we want two ice cream sundaes," the pair...