Berlin's multibillion-euro bailout of GM's European operations, particularly those in Germany, has sparked fierce criticism of protectionism and waste. "The state carries the entire risk," said Manfred Wennemer. "We don't have a solution that will eventually turn Opel into a competitive company." This from the man who is the German government's own representative at the trust currently controlling the troubled auto maker.

Mr. Wennemer, a former head of auto-parts-supplier Continental, knows something about the business,...