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mg_zs
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Just a few minutes ago a statement from SAIC has been made.

The reason why the deal has fell through is that SAIC wanted MGR to demonstrate that it would be solvent over the next two years. Therefore as MGR were not able to demonstrate this in their opinion the deal has been put off.

Effectively this is saying that had the £100m been available for two years it would be more likely for the deal to go ahead. Unfortunately the governement was only prepared to offer a 6 month loan - in SAIC's opinion this was not good enough.
 

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BBC News 24 reported the same within the last 10 minutes. Why the hell didn't Labour promise the loan for 2 years and sort out any legislative problems as they went? The French would have at a drop of a hat. This situation need never had happened if we weren't so honest and gullible.

Anthony.
 

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Although they aren't blameless the Govn are restricted by the EU it their fair rules directive that made it an emergency fund thats why I say f**K the EU it's time to get out of Europe and make our own decisions about our future before we become a little puppet state they are litterally bleeding this great counrty dry of its resourses and why because we let them this gov'n is weak and it's people are going around blinkered they know it they just feel better not thinking about it!
 

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anthony said:
BBC News 24 reported the same within the last 10 minutes. Why the hell didn't Labour promise the loan for 2 years and sort out any legislative problems as they went? The French would have at a drop of a hat. This situation need never had happened if we weren't so honest and gullible.

Anthony.
Maybe then, all is not lost after all.

As MG Rover have not called in the Receivers, merely asked for advice, then they could provide advice as to how to get the deal back on track.
 

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There is a chance that SAIC knew exactly what was going on and thought if they stall long enough MGR would go bankrupt and they could just pick up the bits they wanted for a lot less than they were thinking of stumping up I guess if this is the end then we will see the sad dismantling of this great company with bits going off to the far corners of the world! how did it come to this?
 

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The 6 month rule could have been worked around... Or the Government could do what the French and Germans do and ignore the EU law.

Its a sad state of affairs if the government can't help a company in its own country without breaking an EU Law.

Very sad.
 

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MGsales said:
Although they aren't blameless the Govn are restricted by the EU it their fair rules directive that made it an emergency fund thats why I say f**K the EU it's time to get out of Europe and make our own decisions about our future before we become a little puppet state they are litterally bleeding this great counrty dry of its resourses and why because we let them this gov'n is weak and it's people are going around blinkered they know it they just feel better not thinking about it!
Out of europe and into what?? go it alone.. yeah right, go with america? No bloody thank you!!
 

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The 6 month rule could have been worked around... Or the Government could do what the French and Germans do and ignore the EU law.

Or even better... place an order on behalf of the MOD for £100m worth of cars to be delivered in 2007. Defence expenditure is excluded from EU Competition Rules ;)

John
 

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SteveChilds said:
The 6 month rule could have been worked around... Or the Government could do what the French and Germans do and ignore the EU law.

Its a sad state of affairs if the government can't help a company in its own country without breaking an EU Law.

Very sad.
Exactly and couldn't agree more. At the end of the day we are fools to ourselves. We should do whatever it takes and f*** everyone else.

Anthony.
 

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I dont think leaving the EU is called for yet, but certainly applying its rules in a slightly more 'liberally interpreted' fashion (like the french) would do wonders.
 

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Its very true they all break they rules apart from us and thats why we lose its time for the gloves to come of and play them at their own game but our spineless govn wont do it

Very sad I will not be voting labour now unless they prove me wrong UKI will get my vote I am sick of it I know I shouldn't go down this road but why did my grandad spend 5 years and 2 escapes in Germany during WW2 just for Europe to sneak in the back door and beat us hands down?
 

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What you think this is working? its your money mate why dont you just stick it in an envelope marked to Europe spend it how you want! trust me they wont send it back they have been raping your wallet for as long as you've been earning!! I personally think we would be better in bed with the Yanks than the Euros we speak the same language laugh at thet same jokes and never once have they tried invading us what the F**k do we have in common with anyone in Europe anyway!! tell them tp P*ss off when was the last time you saw a Rover in Europe apart from a rare oddity? to chrismm27
 

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B*W will be throwing a party tonight

I just thought any more money due fro B*M will be void they will be laughing at us tonight 2 world wars and this time they have beat us hands down they have been waiting 5 long years for this day trust me Munich will be slapping their knees at our expence personally I feel like emigrating - not to Europe obviously!!!!
 

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JohnSwitzer said:
Its a sad state of affairs if the government can't help a company in its own country without breaking an EU Law.

Agree 100%.

John

The idea is to all follow the law.. if Italy tried to bail out FIAT on the same terms the same terms would apply.. however Britain is very strict in applying to EU rules.. thats something to be proud of, and to surely encourage in European countries who don't..
 
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