German Chancellor Angela Merkel lashed out today at giant US carmaker General Motors over its handling of its troubled European offshoot Opel as company announced the name of the executive who is to take charge of Opel"s restructuring, dpa reported. Speaking to parliament, Merkel said GM has not been in a position to fulfil its responsibility as Opel"s parent company for months, adding that she regretted the Detroit-based carmaker"s decision announced last week not to sell its European unit. "I deeply regret the decision of GM," Merkel said, adding that the carmaker would have to bear most of the cost of Opel"s restructuring. "But the Opel workers need more than our regret, they need a concrete solution, a solution that offers job security," she said. With this in mind, the chancellor went on to call on GM to produce as quickly as possible a restructuring plan for Opel, which includes business operations in Germany, Belgium and Spain as well as Britain"s Vauxhall brand. "We expect GM to present a reliable plan for Opel quickly," said Merkel. Her comments came as GM prepared to unveil this week its restructuring plan for Opel, which are likely to include the European unit having more independence in the US auto group"s global empire. GM veteran Nick Reilly is to lead Opel"s restructuring, the company said Tuesday, following the decision of Carl-Peter Forster to stand down as chief executive of GM Europe. British-born Reilly, who is at present the company"s international chief, is to take over the post of GM Europe head on a temporary basis. GM said last week it plans to restructure its European unit itself instead of hiving off a majority stake to a consortium comprising Canadian parts manufacturer Magna International, Russian state-owned Sberbank and Russian carmaker Gaz. Adding to the tensions surrounding Opel"s future, Magna"s deputy chief, Siegfried Wolf called on GM Tuesday to return investment funds, during an interview on Austrian radio. Plunging car sales resulted in GM launching earlier this year a major makeover of its global operations, including selling off Opel. But since then, the carmaker has emerged from bankruptcy and a new GM board has been appointed. Also, there are signs the economic crisis has abated for the global car industry and the world economy in general.
