Saab Crisis: No more EIB money for Saab

It goes on, relentlessly. Unfortunately. Svenska Dagbladet does not report good news from Luxembourg tonight. At the EIB, Saab requested another installment of the committed loan weeks ago.

It's about 30 million or 260 million kroner.

Circles close to the EIB are now reporting that there will be no disbursement. According to its statutes, the EIB is only obliged to pay development funds to “economically sound” companies. If Saab is better, you are ready to pay.

The EIB's refusal can be the "end" for Muller's shaky financial plan. Actually, the money from the property sale, plus EIB loan, should start production. The real estate business also depends on the EIB. If the security is not released, the sale will burst.

No, not a good day today, really not.

Text: tom@saabblog.net

One thought on "Saab Crisis: No more EIB money for Saab"

  • Not a good day for Saab?

    You can see it differently. Shouldn't we be more clairvoyant now? For a long time I thought Muller was just a player who knows how to bluff perfectly. But didn't it already become apparent after the first production stop (just a cough or the like) and even more so after the second (only for a few days) that the deceptions towards the suppliers might have exceeded the fraud limit for a long time? The debacle was then made completely clear by the Muller proposals to the suppliers: miserable conditions that they were almost ready to accept. Can't you imagine the (fortunately overestimated) extortion potential that has been used here for a long time? For example, the pressure in which the first supplier must have been at the time, who nevertheless bravely said "up to here and no further" and thus brought about the first production stop. Or think of the big Chinese car dealer who paid so much cars in advance. This does not imply the assumption that this trader must not only feel cheated, but also be drawn into a blackmail situation (either you follow up or you have lost everything). That's why I don't see the Swedish government and the EIB, which are often heavily criticized in this blog, in such a bad light. On the contrary. Above all, their attitude has made it clear that they are not inclined to be blackmailed by pointing out to Muller that Saab is of no great importance to them (which in the background does not have to be true but does not make Muller's speculation work, but leaves room for other, better solutions). One would almost like to digress politically and add: How would we Germans have wished for such behavior with regard to Greece and the euro, how many billions of German money would we have withheld from a bottomless pit.

    Muller's only and lasting merit will be that he has shown the world which great cars Saab engineers, designers and builders are capable of building. In my opinion, that's all.

    Otherwise he only damaged the good name. After all, it is not just the suppliers of good merchandise who, according to all previous findings, feel cheated. It is also the traders who make good investments and can no longer enforce their claims. And only the customers who have received a car for their good money, in which they have to say in retrospect: there look, for these fine ventilated seats, the glass sunroof and the head-up display of my beautiful new Aero have the suppliers so far, nothing or almost nothing. Certainly, no fault of your own and yet no nice feeling.

    No, Muller has damaged the Spirit of Saab. Because to this spirit belongs quality and honesty.

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