The announcement came at a press conference attended by Federal Industry Minister Tony Clement, Minister of Finance Jim Flaherty, and Ontario’s Industry Minister Michael Bryant.

Obama Administration’s Stand

US President Barack Obama announced his government’s rejection of Chrysler and General Motor’s’ (GM)’s restructuring plan. The American government said Chrysler by itself wasn’t a viable company. He gave them one month to reach a technology-sharing agreement with Italian owned Fiat. If the two companies come to an agreement, the government would consider providing the requested $6 billion.

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