LONDON – Sweden found a smart way to guarantee the 400 million loan that the deal between Saab Spyker made possible: the country insisted on the “maintenance division” as a security.

The Swedish taxpayers may perhaps be very pleased with the rescue of the country’s proud car maker, but there are less happy people as well, with these high-risk loans.
400 million euros is 0.2 percent of the Swedish national product.

Sweden in the negotiations insisted that the highly lucrative ‘spare parts’ Saab division would serve as security for the loan from the European Investment Bank (EIB).

According to our informant, this division is “by far the most profitable division of Saab.”