Germany warns peers on GM aid

FRANKFURT: Germany warned fellow European governments yesterday against offering financial aid to General Motors Europe in exchange for job guarantees, ahead of a meeting in Brussels to discuss the future of the company.

Economy Minister Rainer Bruederle told ARD television that business competition rests on the concept of not providing financial aid to companies. He said the EU should focus on its aid rules, which attempt to keep competition between companies and countries even by scrutinizing and limiting financial assistance from states.

GM Europe met EU officials as well as representatives from European countries where the company has plants and business interests, including Germany, the UK and Spain.