General Motor’s bankruptcy and global concern

On Monday, General Motors filed for chapter 11 bankruptcy protection, this has now prompted speculation about what the fate will be for the once giant automaker around the world. There is a concern on the operations of GM, and this has already been felt in Europe with its Opel and Vauxhall brands.

Aljazeera.net reports that the bankruptcy of General Motors is the third-largest bankruptcy in US history, and since the announcement, governments and manufactures around the globe have been getting ready for the coming fallout. Germany has already had to step in and provide aid for Opel.

GM is a huge company and employees almost 250,000 people in 140 countries, and as you could imagine, they are fearful of what will happen to them. This is where it then becomes a worry for these governments in those 140 countries, they do not want these factories to close, so will have to dig deep to try to save them.

The troubling thing is, we are now in a recession, and the governments are already borrowing too much, it will take more than my lifetime for them to pay this debt back. Let us hope that the global economy kick starts soon, as we now face an uncertain future.

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