Swedish state should save Volvo and Saab

The crisis at Swedish car makers Volvo and Saab, both of which belong to US companies, is escalating. On Monday it became known that new registrations were down by over a third in comparison with the previous year. At the same time it was confirmed that Ford is in the process of selling Volvo. The Stockholm tabloid Aftonbladet writes that the state must now intervene: "All over the world governments are involved in restructuring the automotive industry. It is easy to understand why. The car sector is the backbone of industry in many countries. The Swedish car industry and its suppliers employ at least 130,000 people. Yet the Swedish government is showing no interest in the events unfolding at Volvo and Saab. Last weekend Prime Minister [Fredrik] Reinfeldt announced that it was up to the market 'to solve the problems'. A very surprising commentary on events in Washington, Paris and Berlin."

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