Businessweek:Germany: no subsidy race for GM jobs - by Aoife White
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German officials denied Monday that they were trying to outbid other European nations in offering money to General Motors Co. to save local jobs.
GM's European executives are meeting with ministers from Germany, Britain, Belgium, Spain and Poland as well as European Union commissioners in Brussels to discuss how the company plans to cut capacity by 20 to 25 percent -- and likely shed thousands of jobs. Germany's deputy economy minister Jochen Homann said Germany "will not participate in a subsidy race" as other countries hint that they are willing to help the company pay the costs of restructuring the Adam Opel GmbH and Vauxhall units.
