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Germany: U.S. Concerned About Opel Bailout

German Economy Minister said U.S. and Germany are 'marching together' in looking at a bailout plan for troubled automaker GM and its European subsidiary.

WASHINGTON (AP) -- The U.S. and German governments share the same concerns over the possible bailout of Detroit automaker General Motors Corp. and its European subsidiary Adam Opel GmbH, German Economy Minister Karl-Theodor zu Guttenberg said.

Speaking after meetings late Tuesday with U.S. Treasury Secretary Timothy Geithner in Washington, Guttenberg said "we're now marching together" in looking at a bailout plan.

German leaders are worried that the crisis for American carmakers could bring down Adam Opel GmbH, GM's beleaguered subsidiary.

Opel says it needs euro3.3 billion ($4.3 billion) to get through the economic crisis. It has sought help from the German government, but officials in Berlin insist that U.S. parent GM must first come forth with a restructuring proposal for the future.

Guttenberg said Geithner was looking for the same thing.

"The U.S. government is asking exactly the same questions as we are," he told reporters traveling with him.

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