"We've lost $14 billion (in Europe) in the last 12 years," Akerson said on June 28. "It's got to stop." Political reaction came quickly in Germany, just as it had after Peugeot's announcement in France. The head of the state government in Hesse, home to Opel's headquarters, expressed fear Opel might renege on job guarantees. "Stracke told me in May that the current contracts would be honoured and the historical heart (of Opel), the Ruesselsheim plant, would remain in its current form," said Hesse state premier Volker Bouffier in a statement on Thursday. He said the state government expected Opel to respect those pledges. Detroit-based Ford Motor Co also recently warned that its outlook in Europe was deteriorating. Ford has said it expects to lose between $500 million and $600 million in Europe this year, but Morgan Stanley now forecasts a loss of $1.1 billion, more than Opel's expected losses.