Following the announcement from its auditors that the future of General Motors is in substantial doubt, the European Commission has called a crisis meeting of European Union states that are home to GM plants.
GM has already announced an operating loss of USD $30.9 billion (AUD $48.1 billion) for 2008. The car maker has asked for assistance from a number of governments where it has plants operating and predicts that 2009 will be ?challenging?.
Guenter Verheugen, the EU Industry Commissioner says that the way GM is "dealing with the issue of Europe is not acceptable". It is believed that GM?s operations in Europe could face closure within the next few weeks, putting 300,000 jobs at risk.
Mr. Verheugen outlined the purpose of the crisis meetings:
"We expect GM to disclose everything. What are their plans with their European daughter companies and locations? What are they doing with property rights, and especially is GM prepared to maintain responsibility for the European companies or not?"
European nations which have GM production plants include Britain, Belgium, Germany, Spain, Poland, and Sweden. Other EU states which host GM suppliers are also affected.