Sweden Creates $3.4 Billion Meatball For Volvo, SaabRay Wert12/11/08 8:20amFiled to: Carpocalypse NowBailout LiteIndustry NewsVolvoSaabSwedenFinanciapocalypse59EditPromoteShare to KinjaToggle Conversation toolsGo to permalinkThe Swedish government has created a $3.4 billion (28 billion kronor) support package including credit guarantees and rescue loans for Volvo and Saab, hours after the US approved their own aid package. Børk! Børk! Børk!The Swedish government passed a $3.4 billion (28 billion kronor) support package including credit guarantees and rescue loans for Volvo, Saab and the rest of Sweden's not-so-huge automotive industry. This came mere hours after the US approved their own "bankruptcy lite" aid package (would we call this "bailout lite"?), just passed by whatever body it is that passes such things in Sweden, consists of a maximum of 20 billion kronor in credit guarantees to automotive companies and up to 5 billion kronor in rescue loans to bail out companies in crisis.