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The world economy can cope with Greek exit - Reinfeldt

Wednesday, 23 May 2012
A Greek withdrawal from the euro area does not necessarily mean a further downturn in the global economy, and therefore need not affect the Swedish economy in any significant way. It is the view of Swedish Prime Minister Fredrik Reinfeldt told reporters on Wednesday.

"Sweden has a relatively small exposure to Greece. However, it would suffer a worldwide impact what happens in Greece, and its effects on the financial markets in a way that gets responses even in Sweden, "he told reporters after a meeting with the Parliamentary Union -committee before Wednesday night's EU summit.  "We should be clear that mismanagement and serious problems in other countries also have significant effects on Sweden, "he adds.

The Prime Minister does not want to speculate on whether Greece will really leave the euro, but says that although the crisis-hit country chooses to do so, it need not necessarily mean a further deterioration in world economy. There is evidence that it might instead points to an upswing.
"We have a world economy that has accelerated, "continues Reinfeldt and refers to a better growth in the U.S. but also positive signs from Asia, Latin America and Africa.
"It is southern Europe that are weighing down the world economy, the rest looks significantly promising.”
By Team

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