Sweden not yet decided on supporting Portugal - no strategic and systemic risk fears.


Friday, 13 May 2011
Sweden will not consider a package of Portugal. No request has yet been submitted to the government, according to Swedish Finance Minister Anders Borg.

“There is a consensus in Parliament that Sweden has already done such extensive operations in other countries and when there are no other bilateral programs, no other EU country is going in, so we have decided that at this stage not consider a support packages for Portugal,” says Finance Minister Anders Borg.


The decision not to contribute or provide Swedish support has to do with an overall assessment of systemic risks and Swedish interests.

Borg points out that the world economic growth has become more stable and that risks are therefore reduced to the crisis in Greece, Portugal and Ireland and have concomitant effects.

In the case of Swedish interests, Swedish banks had greater exposure to Ireland and Latvia.
“We have a very limited exposure to Portuguese. We make the overall assessment that systemic risk is less and as such a Swedish contribution is in no way  crucial as would have expected, "said Borg.
By Team

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