Sweden has been one of the countries to have best weathered the economic crisis. Despite a hiccup in its domestic economy and the extra deflationary impulse from souring loans to the Baltics in 2009, the Swedish economy has been remarkably resilient. Yet, the economy has begun to falter, in large part because of its connectedness to the euro zone. The Swedish central bank, the Riksbank, has cut interest rates to 1% as the economy slows. But it is housing inflation and the related high levels of household debt which are the true Achilles heel for Sweden.
Over the past few days, I have highlighted a number of posts on the Swedish economy in the links and promised to say a bit more about Sweden in a separate post. Fred Sheehan beat me to it with the last post here at Credit Writedowns on Swed...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.