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Melanchthon:
"the Swedish presidency of the EU does not seem to be in a hurry to improve regulation of the financial sectors

I would be very surprised if they had acted to regulate. So far the most visible action the swedish government has taken was in the Carnegie-affair:

Carnegie Investment Bank - Wikipedia, the free encyclopedia

In the wake of the Economic crisis of 2008 and to avoid bancruptcy Carnegie Investment Bank AB was taken over by the Swedish National Debt Office on November 10, 2008. The largest shareholders at the time was Böös & Enblad AB (9,2%), Moderna Finance AB (6,4%) and Harris Associates fonder (5,3%). In May 2009, the private equity company Altor and the investment company Bure acquire Carnegie Investment Bank AB. The ambition is to re-establish Carnegie as the leading independent investment bank in the Nordic region.[1][2] The bank had broken the law by lending too much money to one customer, property magnate Maths O. Sundqvist.[3]

Carnegie was the favourite bank for the present government when it came to organising sales of governmentally owned companies, so it was not surprising that they leaped in to save this investment company. In contrast they have clearly declared that saving Volvo or Saab by nationalisation is out of the picture.

So they seem stuck in the same frame of finance=important, production=not important as their anglo counterparts. And important of course means that it must have its freedom, not be regulated and so on...

Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se

by A swedish kind of death on Wed Aug 19th, 2009 at 03:36:15 PM EST
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