Doubts About Reliable Problem Solving

2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36

Hans-Heinrich Driftmann would have found an Opel bankruptcy more sensible. The DIHK President warns of distortions of competition in the automotive industry and of unpleasant surprises.

The President of the German Chamber of Commerce and Industry (DIHK), Hans-Heinrich Driftmann, has criticized Magna's entry into Opel and the associated fiduciary solution for the ailing carmaker: "In case of doubt, an orderly bankruptcy would have been better," said Driftmann on Sunday on Deutschlandfunk. He stood behind Minister of Economic Affairs Karl-Theodor zu Guttenberg (CSU), who had favored bankruptcy proceedings for Opel, but was unable to assert himself in the federal government.

Last minute surprises

Driftmann doubted that a reliable problem solution could be achieved with the agreed concept. «Anyone who has experience in international treaties, especially transatlantic ones, knows that there can be surprises at the last minute. There are still great risks for the taxpayer. The DIHK President also warned of massive distortions of competition in the automotive industry. In addition, a precedent has now been set, said Driftmann with a view to the retail group Arcandor, which has also asked for state guarantees. Small and medium-sized enterprises have no understanding for such measures “getting out of hand”.

The financial policy spokesman for the Union parliamentary group, Otto Bernhardt (CDU), also warned of risks. "With this concept, it is not yet certain that Opel will still exist in three years," said Bernhardt in an interview with the German press agency dpa. The time pressure was "devastating". Bernhardt also referred to the upcoming elections. It is good that the rescue plan does not come to a vote in the Union parliamentary group: "In my opinion, it would not be safe."

Can be blackmailed with generous help

Guttenberg also received support from the economic wing of the Union: “I am fully on Guttenberg's side,” said CDU economic expert Michael Fuchs of “Welt am Sonntag”. He was very much in agreement with the Minister of Economic Affairs “drawing attention to the dangers of the deal”. The chairman of the SME Union of the CSU, Hans Michelbach, fears that Magna will primarily be interested in the utilization of its own supplier capacities. This would then possibly be at the expense of medium-sized suppliers. The budget expert of the Union parliamentary group, Steffen Kampeter (CDU), told the dpa that he was one of those who, like Guttenberg, “would have considered another solution to be sensible”.

Guttenberg reaffirmed his much-criticized position: "The state runs the risk of making itself vulnerable to blackmail if it helps generously," he told "Welt am Sonntag".

Steinmeier full of praise

Vice Chancellor Frank-Walter Steinmeier (SPD) praised the rescue concept. He told the “Bild am Sonntag”: “All concepts provided for dismantling. With the Magna concept, we not only get the four German locations, but also the greatest possible number of jobs. " Hesse’s Prime Minister Roland Koch also supports Magna’s commitment. At the same time, he called on the Opel management to start restructuring the company immediately. Opel would currently generate three million euros in loss per day. "That has to stop as soon as possible," emphasized Koch in the "Frankfurter Allgemeine Sonntagszeitung". (dpa)