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Mr Verheugen said the collapse of a car company in Europe would not prove fatal to the EU economy, whereas a financial institution failure could (Photo: Frank Vincentz)

EU annoyed by General Motors tactics

The EU is becoming increasingly frustrated with the American car company General Motors, the owner of a number of struggling car companies in Europe, accusing it of attempting to exploit a lack of EU co-ordination to secure greater financial support.

At a meeting of EU industry ministers in Brussels on Thursday (5 March), Belgian minister Vincent Van Quickenborne said the EU must "clearly tell GM that it can not play one country off against another in an attempt to raise the stakes."

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Mr Verheugen said the collapse of a car company in Europe would not prove fatal to the EU economy, whereas a financial institution failure could (Photo: Frank Vincentz)

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