A wake-up call for the U.S., Swedish prime minister, Reinfeldt


Saturday, 06 August 2011
Swedish Prime Minister, Fredrik Reinfeldt, said on Saturday that the markets are very nervous around the world, something that becomes most common in August.

"There is also a link to the deep problems in Europe and USA. For the American, its something of an awakening that may become inquisitional," said Mr. Reinfeldt.

This can happen according to Reinfeldt if China starts demanding for an alternative world currency other than the dollar.
"For a global currency, there has been an idea that the euro would become such, so that the world should be able to have other large, stable currencies besides the dollar.”


Fredrik Reinfeldt believes in a development where there are several major currencies and the unilateral peg to the U.S. should diminish over time.

He would still not say anything about whether EU rescue fund needed to be expanded.
"If we always start by answering the questions how the rescue fund should look like it will be a sort of signal that European involvement is only to discuss short-term emergency measures.

The basic problem is that we have a number of indebted European economies with large structural problems. What is lacking is sufficient measures in these countries in order to accurately describe the problem and do something about them. There can be no European meeting to correct them, if not then pursue them with reforms and measures in the countries where the problem is heaviest. "

Reinfeldt thinks it is too early to say how the economic instability in the world will affect the government's election promises. He points out that about half of the Swedish economy is linked to exports.
"We have well-managed public finances, but we are influenced by our surroundings. What is the connection to what takes place in Europe and the U.S. will not be known very soon."
By Team

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