German Econ Min: Haven't Yet Overcome The Crisis

Europe's largest economy hasn't yet turned the corner, Germany's new Economics Minister Rainer Bruederle said Thursday.

"We haven't yet overcome the crisis," Bruederle said in a speech to his staff when taking over the ministry from former economics minister Karl-Theodor zu Guttenberg.

He also said that he is pleased to take over the ministry from zu Guttenberg, but added that "it would have been even nicer if you had already fully dealt with Opel...but one can't choose everything."

For months, the Germany government has been involved in the future of German car maker Adam Opel AG, a unit of General Motors Co. It has offered to provide aid to the company taking a majority stake in Opel and GM's unit Vauxhall. The previous grand coalition government had pushed hard for Austrian-Canadian car parts maker Magna International Inc.'s (MGA) and Russian OAO Sberbank's (SBER.RS) takeover of Opel and Vauxhall.

The deal was expected to be signed in early October, but has since suffered delays due to labor issues and concerns about state aid.

Bruederle's free democratic party, which is the new member of the center-right coalition government, was critical during the election campaign of the former grand coalition government's involvement in Opel.

-By Andrea Thomas, Dow Jones Newswires; 49-30-288-8410; [e-mail]