Analysis: How the ghost of 1990s property crash returned to haunt Sweden reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Long before Europe faced its debt crisis, Sweden struggled through its own 1990s property crash. Sweden first embraced property in the mid-1980s, when the country scrapped strict limits on lending, triggering a free for all that led to a housing collapse and the rescue of two banks, tipping the 10-million-strong country into recession. "The market is almost at a standstill," said Jens Henriksson, chief executive of one of the country's biggest banks, Swedbank.
Long before Europe faced its debt crisis, Sweden struggled through its own 1990s property crash. Now the country is preparing to use an old playbook to.
Sweden has the
financial muscle to intervene to stem any fire sale of property
from companies rushing to sell out, the head of the country s
debt agency told Reuters on Thursday. .