{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='WRAP EU meeting on GM Europe, CEO, Fiat reax, Steinmeier, File' data-url='/boclips/videos/5c54bd41d8eafeecae132c38' data-video-url='/boclips/videos/5c54bd41d8eafeecae132c38' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nWRAP EU meeting on GM Europe, CEO, Fiat reax, Steinmeier, File\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eFILE: Rome, Italy - Exact date unknown, 20081. Mid of Fiat President Luca Cordero De Montezemolo and CEO Sergio Marchionne at an Alfa Romeo Mito presentation2. Close-up of Fiat car 3. Wide of Fiat showroom presentationRome, Italy - 29...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eFILE: Rome, Italy - Exact date unknown, 2008\u003cbr/\u003e1. Mid of Fiat President Luca Cordero De Montezemolo and CEO Sergio Marchionne at an Alfa Romeo Mito presentation\u003cbr/\u003e2. Close-up of Fiat car \u003cbr/\u003e3. Wide of Fiat showroom presentation\u003cbr/\u003eRome, Italy - 29 May, 2009\u003cbr/\u003e4. Mid of Fiat news release \u003cbr/\u003e5. Close-up pan along news release reading: (English) \"Fiat SpA has decided not to attend the meeting tentatively scheduled by the German government in Berlin on Friday, May 29th.\"\u003cbr/\u003eBerlin, Germany - 29 May, 2009\u003cbr/\u003e6. Wide exterior of German Chancellery, venue of GM Opel meeting \u003cbr/\u003e7. Close of window in Chancellery building \u003cbr/\u003e8. SOUNDBITE (German) Karl-Theodor zu Guttenberg, German Minister for Economy:\u003cbr/\u003e\"There are new proposals from Magna which are being negotiated with GM at the moment and are being verified by us.  It is not certain we will reach a decision tonight because all these processes need to be checked, so if somebody says that we will have a solution tonight, it is not necessarily correct.\"\u003cbr/\u003e9. Zu Guttenberg walking away after speaking \u003cbr/\u003eBerlin, Germany - 29 May, 2009\u003cbr/\u003e10. Mid pan of vehicles arriving for meeting at German Chancellery \u003cbr/\u003e11. SOUNDBITE (German) Frank-Walter Steinmeier, German Vice-Chancellor:\u003cbr/\u003e\"You know I've been saying since February that long-term security for Opel is impossible without interim funding from the state. That became clear two days ago during the night talks.  I, and I hope all the others involved, are working towards reaching a solution tonight.\"\u003cbr/\u003e12. Steinmeier walking away \u003cbr/\u003eBerlin, Germany - 29 May, 2009 \u003cbr/\u003e13. Wide of officials arriving by car at the Chancellery for meeting \u003cbr/\u003e14. Close-up of GM Europe CEO Karl-Peter Forster in his car in front of the Chancellery\u003cbr/\u003e15. Mid of Forster in the car\u003cbr/\u003e16. Cars driving into the Chancellery\u003cbr/\u003eBerlin, Germany - 29 May, 2009\u003cbr/\u003e17. SOUNDBITE (German) Juergen Ruettgers, Governor of North-Rhine Westphalia:\u003cbr/\u003e\"The way GM was running these talks is, I find, unacceptable, and if there is no resolution today I think the 15-thousand workers and their families who are affected have the right to (demand) accountability.\"\u003cbr/\u003e18. Wide of building with German flag flying \u003cbr/\u003eBrussels, Belgium - 29 May, 2009\u003cbr/\u003e19. Wide exterior of European Commission building Charlemagne, venue of the meeting\u003cbr/\u003e20. Cutaway of cameras\u003cbr/\u003e21. SOUNDBITE (English) Vincent Van Quickenborne, Belgian Economy Minister:\u003cbr/\u003e\"Because today, there is only one country negotiating with the company, although this is a European problem that should be solved on the European level.\"\u003cbr/\u003e22. Delegates walking into venue\u003cbr/\u003e23. Cutaway of media\u003cbr/\u003e24. SOUNDDBITE (English) Gunter Verheugen, European Commissioner for Industry:\u003cbr/\u003e\"The purpose of the meeting today is to organise a level playing field of information for everybody.  That was agreed already some months ago.  Member states which have a special interest because they have locations where General Motors is manufacturing in Europe, need to know what is happening and how the situation is.  It will be an exchange of information, certainly member states will express their views, how the problem can be solved, but I do not expect that we can already come to conclusions today. Certainly there will be no decision today.\" \u003cbr/\u003e25. Cutaway of media\u003cbr/\u003e26. SOUNDBITE (English) Maud Olofsson, Swedish Deputy Prime Minister and Minister for Enterprise, Energy and Communications:\u003cbr/\u003e\"We have decided together, a few months ago, that we should stick together, that we should follow the rules and that we should inform each other. That has not been the case right now.\"\u003cbr/\u003eBrussels, Belgium - 29 May, 2009\u003cbr/\u003e27. Mid of EU flags \u003cbr/\u003e28. Gunter Verheugen, European Commissioner for Industry, arriving and greeting delegates\u003cbr/\u003e29. Cutaway of Malta delegate\u003cbr/\u003e30. Verheugen speaking with delegate\u003cbr/\u003e31. Various of informal roundtable meeting \u003cbr/\u003eGeneral Motors Corporation, the German government and Canadian auto parts maker Magna have agreed on the framework of a deal for Magna to take a majority stake in GM's Opel unit, a person briefed on the negotiations said on Friday.\u003cbr/\u003eNegotiators were working out the final details and an announcement could come within hours, said the person, who did not want to be identified because talks had not yet finished. \u003cbr/\u003eIt includes Magna International Incorporated providing short-term financing to become the preferred negotiating partner for Opel.\u003cbr/\u003eThe German government would put up a 1.5 (b) billion (2.1 billion US dollars) bridge loan that would be repaid when the deal is closed.\u003cbr/\u003eThere was no immediate comment from the German government.\u003cbr/\u003eEarlier on Friday, Economy Minister Karl-Theodor zu Guttenberg said that GM and Magna were negotiating on \"new proposals\" from the bidder, which also were being examined by the German government.\u003cbr/\u003eThe German government was to hold a second round of top-level negotiations on the future of Opel after talks faltered on Thursday over new short-term funding needed to move Opel into an independent legal structure. \u003cbr/\u003eThe other suitor for Opel, Fiat Group SpA, stayed away from the talks, saying that it faced \"unreasonable\" funding demands, but CEO Sergio Marchionne stressed that Fiat was not withdrawing its bid.\u003cbr/\u003eGermany is looking for an agreement that will shield Opel, which employs 25-thousand people in Germany, nearly half GM Europe's work force, from a looming GM bankruptcy court filing in the US and extensive restructuring.\u003cbr/\u003eThe government wants to make it legally independent under a trustee so that any taxpayer assistance does not go to the US, then would provide bridge financing while Opel looks for a new, permanent owner.\u003cbr/\u003eOntario-based Magna International Incorporated is leading a bid for a majority of Opel from a consortium that also includes Russian lender Sberbank.\u003cbr/\u003eJuergen Ruettgers, the governor of North Rhine-Westphalia state, one of four in Germany that has Opel plants, said from outside the Chancellery that if there was no decision tonight Opel workers had the right to demand accountability.\u003cbr/\u003eA government official, speaking on condition of anonymity because no official announcement had been made, said the meeting was expected to go ahead starting at about 6pm (1600GMT), two hours later than originally expected. \u003cbr/\u003eThe reason for the delay was unclear, as was exactly who would attend.\u003cbr/\u003eGM Europe chief Carl-Peter Forster was seen going into the chancellery.\u003cbr/\u003eGerman officials blamed short-term financing needs they said were brought up by GM totalling 300 (m) million euro (418 million US dollars) for preventing a decision earlier this week. \u003cbr/\u003eThe government has offered 1.5 (b) billion euro (2.1 billion US dollars) in bridge financing.\u003cbr/\u003eThe government wanted bidders and GM to come up with an agreement on covering the short-term financial needs before Friday's meeting.\u003cbr/\u003eWhile Magna has previously indicated it would be willing to provide the additional funding, Marchionne said Fiat had decided to pull out of the continuation of the talks Friday because of the requirement for the emergency funds.\u003cbr/\u003eMarchionne said it was \"unreasonable\" to expect Fiat to provide such funding because it had not yet had full access to Opel's financial records and could not determine \"its precise financial condition and thus properly frame a merger proposal that would be fair\" to both sides.\u003cbr/\u003e\"The emergency nature of the situation cannot put Fiat in a position to take on extravagant risks,\" he said in a statement.\u003cbr/\u003eTaking over GM's European operations, including Opel and Britain's Vauxhall, is a key part of Marchionne's strategy of creating a car company with the capacity to produce 6 million cars a year, the threshold he says is necessary for an automaker to survive.\u003cbr/\u003eFiat is on the verge of taking control of a 20 percent stake in Chrysler, pending the completion of restructuring in bankruptcy court in New York.\u003cbr/\u003eMeanwhile, separate to the talks in Germany, the European Commission was hosting talks among EU ministers to coordinate government efforts to save GM's European operations.\u003cbr/\u003eBelgium and Sweden are pressing Germany at Friday's hastily arranged EU talks to clarify what its plans are.\u003cbr/\u003e\"Today, there is only one country negotiating with the company, although this is a European problem that should be solved on the European level,\" said Belgium Economy Minister, Vincent Van Quickenborne ahead of the meeting.\u003cbr/\u003eMeanwhile, Swedish Deputy Prime Minister and Minister for Enterprise, Energy and Communications, Maud Olofsson, said she wants to ensure the German government doesn't negotiate an exclusive deal with GM that would force the closure of auto plants in other parts of the 27-nation bloc.\u003cbr/\u003e\"We have decided together, a few months ago, that we should stick together...That has not been the case right now,\" Olofsson said.\u003cbr/\u003eEuropean Commissioner for Industry, Gunter Verheugen said Friday's meeting was to \"organise a level playing field of information for everybody.\"\u003cbr/\u003eHe told reporters there would be an exchange of information during the meeting between Germany and other EU member states, as to where the GM negotiations were at, but there would be \"no decision today.\" \u003cbr/\u003eIn Europe, GM sells its vehicles in over 40 markets. \u003cbr/\u003eIt operates 10 vehicle-production and assembly facilities in seven countries and employs around 54,500 people. \u003cbr/\u003eMany additional directly related jobs are provided by some 8,700 independent sales and service outlets.\u003cbr/\u003eThe US carmaker has operations in Germany, Belgium, France, Britain, Italy, Austria, Poland, Sweden, Spain, and Hungary.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan 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