In 1992, there was a run on the currency, with the central bank briefly jacking up interest to 500%.[62][63]
The response of the government was to cut spending and institute a multitude of reforms to improve Sweden's competitiveness, among them reducing the welfare state and privatising public services and goods.
Following is the current party lineup in the Swedish parliament, as of October 2011, Total centre-right block ~ 173, Total centre-left block ~ 156.
Maybe not the socialistic country you envisioned.