Germans staggered by blue-chip calls for aid

The German government is shocked by how many blue-chip companies have come begging for assistance during the financial crisis.

It had set up an £110billion pot to help small to medium-sized enterprises and seriously ailing groups such as carmaker Opel. But recently it has been beset by big businesses claiming to need help.

The plethora of those applying for help has confused who should be eligible for a bailout and the government and Chancellor Angela Merkel have been described as being "deeply concerned".

Porsche's chief financial officer and deputy chairman Holger Härter visited the government-run KfW development bank to explore borrowing around �1 billion (£873million).

BMW also wants help as does Arcandor, which owns Thomas Cook and says that it is in need of a loan of �500 million.

Precision mechanical engineering firm Heidelberger Druckmaschinen is seeking a €300million loan and a €400million loan guarantee and Iveco, which makes commercial lorries, has asked about a loan.

Carmaker Ford and the Wadan Shipyard in the Baltic Sea port of Rostock have applied for government guarantees and observers now expect another bailout package will have to be passed by the cabinet.