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Bitterness, anger and disbelief mixed with betrayal and even resignation are just some of the emotions boiling within Germany following Tuesday's shocking news that General Motors will scrap its sale of Opel.
After months of protracted negotiations with a consortium led by Canadian auto parts maker Magna that finally led to GM approving a sale on Sept. 10 backed heavily by unions, the carmaker's board of directors reversed course and voted now simply to restructure Opel "in earnest" itself.
GM confirmed the decision made by its 13-member board after a meeting of directors on Tuesday in Detroit, saying that improving business conditions and the strategic importance of Opel to its operations had prompted the move
Opel's labour leaders have agreed to contribute 265 million euros ($388 million) in annual savings as part of a much-needed restructuring plan, but made that contingent on a sale to Magna.
"Unfortunately my suspicion seems to been confirmed that the decision to sell Opel to Magna was connected with the elections later that month in Germany," Opel's senior labour leader in Bochum, Rainer Einenkel, told Reuters.
Chancellor Angela Merkel and key allies in her conservative party lobbied heavily in Magna's favour ahead of the parliamentary elections on Sept. 27, thinly veiling a threat that no German aid would flow should any other decision be taken.
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