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Sweden to provide emergency loans to Volvo, Saab December 11th, 2008 by DaveAdmin
The Swedish government may provide $3.4 billion in aid to its two automakers, Volvo and Saab (owned by Ford and GM), which employ around 20,000 people within the country. The plan, which must be approved by the parliament, includes loans, loan guarantees, and research funds. No demands were made on the two companies to slash wages or to refuse to pay 70% of the value of their loans. |
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