The fate of Opel Antwerp and its 3,000 workforce is of concern to the government as elections approach. Whether the owner remains GM or becomes Fiat, it is likely that there will be cuts in European operations, as the global economic crisis has cut deeply into demand for cars. Antwerp is only one of a number of European factories, and the concern of the government is to present the best case possible for the Flemish city in the hope that the axe may then fall elsewhere.

But others have the same idea. Germany has four Opel plants in four of its Länder, or regions, and each of them is being defended by its regional government and by the federal government of Angela Merkel. Antwerp, meanwhile, has the full backing of Flanders – Peeters travelled to Detroit in February with labour minister Frank Vandenbroucke and economy minister Patricia Ceysens to talk to GM on their home ground. The federal government, however, remains distant. The reason for that is particularly Belgian: if money is found from the treasury to shore up Antwerp, an equivalent sum will have to be found for Wallonia, regardless of economic merits.

So far, Peeters’ government has tried to win favour by offering to buy the land Opel Antwerp occupies for €200 million and lease it back to the company. It will also provide investment guarantees of up to €300 million. The lease-back offer has aroused the interest of EU competition commissioner Neelie Kroes, who polices illegal state aids to industry. In the meantime, Germany has put together a war chest worth nearly €3 billion.

Marchionne assured Peeters that it “is not the intention” of Fiat to close Opel Antwerp, but unions remain sceptical about selling out to a competitor. “Marchionne didn’t say the plant will be sure to stay open,” said union representative Rudi Kennes. There are about half a dozen other potential takeover candidates, including the state fund of Abu Dhabi and the Canadian auto supply manufacturer Magna.