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In Sweden we had our crash in the early 90s. The government was forced to borrow huge amounts of money but after a few rough years cleaning up the balance sheet
by erikstarck 16y ago
In Sweden we had our crash in the early 90s. The government was forced to borrow huge amounts of money but after a few rough years cleaning up the balance sheet the economy
recovered.
We now have probably the strongest balance sheet in Europe.
Of course a weakened krona fueled the export sector in the late 90s, a luxury the euro countries don't have but still, recovery can be surprisingly fast if you avoid the fate of Japan.
- akadien 16y agoWould you elaborate on how Swedes save and invest? I'm curious about behaviors of investors and savers in economies that don't seem to be on the brink of death.
- erikstarck 16y agoTaxes in Sweden are extremely high so people tend not to save but rather rely on the government helping them out if things go south. You can probably find all the stats you need here: http://www.scb.se/default____2154.aspx http://www.scb.se/default____2154.aspx One thing to note is that the real estate market has not crashed in Sweden (yet) as in most other countries. Prices are high so this can still happen.