The Swedish government insisted on Feb. 18 it would not step in to take over and rescue beleaguered automaker Saab despite a warning from owner General Motors that the unit would go under without official help.
"Voters picked me because they wanted nursery schools, police and nurses, and not to buy loss-making car factories," Enterprise and Energy Minister Maud Olofsson said.
Her comment came after GM late on Feb. 17 presented a massive restructuring plan to the U.S. Treasury and said its troubled Saab unit could file for bankruptcy protection "as early as this month" without support from the Swedish government. The company said last year it planned to try to find a buyer for the brand.
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