Swedish car firms get bail-out

[dipsydoodle]

Source: BBC News

Sweden's troubled carmakers, Volvo and Saab, have been given a 28bn kronor (£2.3bn, $3.5bn) government bail-out to help them cope with falling demand.

This comes after the US House of Representatives approved a $14bn (£9.4bn) rescue for US car firms.

Volvo and Saab had been asking for Swedish state support because of the financial woes of their US owners.
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As well as the credit guarantees and rescue loans, the government said it would also earmark 3bn kronor in research and development funds for the car industry.

Read more: http://news.bbc.co.uk/1/hi/business/7777395.stm

[L0oniX]

1. I hear that Sweden is the second largest war materials exporter in the world.

Seems odd that with all the war action in the world that they would not be doing well.

[ContraBass Black]

2. Alternate headline: Ford and GM get bailout from Sweeden

Are there strings attached to make sure that the money benefits the domestic economy?

[dipsydoodle]

3. Bound to be strings

Sweden is protecting the car manufacturer's production there - not for example Volvo cars produced by Ford at the Belgian factory.

[cliss]

4. That is such a strange story.

Volvo is owned by Ford. SAAB is owned by General Motors. Both of these companies are in trouble.

And the Swedish government is giving money to - GM? When it's a good chance both these companies will fold.
Come on Swedes think.

[Hannah Bell]

5. The strangeness of it should make us think: What's really going on here?

Sweden bailing out "american" companies.

Maybe they're not.