sway bar
 

The weld that connect where the sway bar mounts to the chasis is rotting away badly. Can I still drive if that fail on me? I could imagine its not the best idea to drive without a sway bar or am I wrong?

I had the same thing happen to me. Both sway bar mounts rusted & broke. I then had to remove the sway bar , cut out & grind down the old one & have someone weld the new ones in. Took about 3 weeks to have that all done & drove the car for that time without the sway bar. So yes, it can be done, but your car will not handle the same. There are a few threads about it under my username and my sons username: teenti.

Fix it ASAP.

Multiple threads with pics and part numbers have been posted.

I agree, Fix it ASAP. I was just stating earlier that it can be done. As I said, I drove it for 3 week without & I drove VERY easily. It is not that hard of a fix & earlier threads have an excellent DIY for this. Good Luck.