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Svenska Dagbladet - Sweden | Wednesday, November 25, 2009

State shouldn't bail out Saab

The Swedish carmaker Saab is facing the end of the road after Swedish sports car manufacturer Koenigsegg announced it was giving up its takeover plans. The daily Svenska Dagbladet holds out little hope for the General Motors subsidiary: "Koenigsegg gave … crisis-hit Saab hope for the future. But it's not so surprising that the story didn't have a happy ending. The whole deal and the buyers were wrapped up in uncertainties and vague promises. The news is a hard blow for Saab employees - and there's no sign of light at the end of the tunnel. As far as the government is concerned … it must remain firm when the red-green voices [of the opposition] start demanding that the state intervene. It is not the task of the state to produce cars, not even when companies are making losses."

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