WASHINGTON (Reuters) - Canadian Finance Minister Jim Flaherty said on Friday that it appears that cost-cutting talks between Chrysler and the Canadian union -- a condition for receiving government aid -- were making progress.
“I’ve heard of some updated information. It sounds like progress is being made and I hope they’re successful in their discussions together so that Chrysler can avoid liquidation,” Flaherty told reporters following a meeting of G7 finance ministers and central bankers in Washington.
Minutes before Flaherty spoke, the Canadian Auto Workers Union postponed a press conference scheduled for 6 p.m. (1000 GMT), in which it was expected to announce an agreement.
Reporting by Louise Egan; Editing by Andrea Ricci