- Sweden edition
- Change edition:
- France |
- Germany |
- Norway |
- Spain |
- Switzerland
Swedish krona the new 'safe haven': prediction
Published: 18 Dec 11 12:51 CET | Print version
Online: http://www.thelocal.se/38008/20111218/
Will Sweden become the new Switzerland next year? According to Saxo Bank, it just might be so.
- Quiz: 'The best town in the country' (17 May 13)
- Sweden plummets in income equality ranking (15 May 13)
- US comedy star to make Swedish TV series (10 May 13)
Among probable and improbable suggestions such as a doubled price on wheat, an unknown outsider taking the White House and Apple stocks crashing, the bank predicts that the Norwegian and Swedish currencies will replace the Swiss franc as a safe haven in a debt-riddled Europe, thereby strengthening the Swedish krona.
"This is one of the predictions I really think could happen. It's built on Switzerland's probable success in defending itself and achieving a weaker Swiss franc," said the bank's head economist Steen Jacobsen to financial newspaper Dagens Industri.
"This means that the capital which has previously been flooding into Switzerland will be looking for new safe havens."
Saxo Bank's other sombre predictions include an Australian recession and a deepened European bank crisis, forcing banks to close for an extended holiday.
The bank's crystal ball also reveals that Apple may be in for a nasty shock during 2012, predicting that the tech company's stocks will plummet by 50 percent.
"Historically it's clear that no company has succeeded in retaining a market share like the one Apple has today," said Steen Jakobsen.
What do you think? Leave your comment below.
Solna voted best place to live in Sweden
Solna, a suburb just north of Stockholm, is the best place to live in Sweden, according to a new ranking published on Friday by Swedish news magazine Fokus. READ () »
Ikea founder rated fifth richest in the world
Ingrad Kamprad, the founder of Swedish furniture giant Ikea, finished fifth on the Bloomberg Billionaires Index published on Friday, with an estimated fortune of $55.6 billion. READ () »
LinkedIn profile lands Swede with hefty tax bill
A Swedish man is facing a five-million kronor ($750,000) add-on to his tax bill after the authorities took a proper look at his account on the professional networking site LinkedIn. READ () »
India in no rush to open first Ikea store
The first Ikea store to open in India may not be ready for years, with the India head of the Swedish furniture giant prepared to wait until the the perfect location is found for the first of the 25 planned stores. READ () »
H&M CEO to Bangladesh: raise minimum wages
H&M CEO Karl-Johan Persson has urged Bangladesh to raise its minimum wage, adding the Swedish fashion giant is "willing to pay more" in the wake of a garment industry disaster which killed more than 1,100 people. READ () »
Pensioners to recruit ageing Swedish rockers
The Swedish Pensioners Association wants to cast off its "stuffy" image at the Sweden Rock festival, in a recruitment bid to set up a rock music subgroup of new members. READ () »
Sweden plummets in income equality ranking
The living conditions of most Swedes have improved in recent decades, but income inequality is growing rapidly, according to a new OECD report, which saw Sweden drop 14 spots from its first place ranking in 1995. READ () »
Swedish shop hits back: our Converse are real
Swedish retailer Coop has refuted complaints by US sneaker brand Converse that Coop stores are selling unauthorized pirated copies of the iconic footwear. READ () »
Young Swedes forced to live with mum and dad
More than half of Swedes in their twenties are stuck living at home with their parents in major metropolitan areas, with observers blaming politicians for abdicating any responsibility for dealing with lack of housing. READ () »
Converse in bid to ban 'fake' shoes in Sweden
Legendary US sneaker brand Converse has asked a Swedish court for permission to search outlets of Swedish retail chain Coop in a bid to clear near-perfect pirated copies of the iconic shoes off the shelves. READ () »
- 10/05 ABB executive to quit after five-year tenure »
- 10/05 Borg defends critique of strong Swedish krona »
- 08/05 EU green lights Volvo and Dongfeng merger »
- 08/05 Sweden sells toxic Baltic salmon to EU: report »
- 07/05 Swedish app lets 'everyone' write music »
- 07/05 'Invisible thread' can help fight fashion pirates »
- 06/05 The British barber a cut above the rest »
- 06/05 Government locks horns with opposition over jobs »
- 03/05 Spotify snags Swedish music app Tunigo »
- 03/05 India seals Ikea's emerging-market push »
| 18/05 | LCI CoordinatorAker Advantage | Bærum/Tranby |
| 18/05 | Tender Lead Subsea 7656Aker Advantage | Ågotnes |
| 17/05 | Account Executive - Sweden- Sofware Sales | Stockholm |
| 17/05 | Authorization Engineer | Västerås |
| 17/05 | Backend infrastructure Team Lead | Stockholm |
| 17/05 | Baxter Home Hemodialysis ? HHD Field Service EngineerBaxter Medical AB | Östergötland |
| 17/05 | Boutique Manager / Store Manager | Copenhagen |
| 17/05 | Business ConsultantTieto Sweden AB | Stockholm, STHM |
| 17/05 | Business Partner Sales to AkzoNobelExperis Finance | SKÅ |
| 17/05 | BUSINESS SOL ARCHITECT | Kista |
- 17/05 Germany cool to France's EU economy plan »
- 17/05 Au pairs rules relax for non-German families »
- 16/05 Germany refuses to slam French economic policy »
- 16/05 Capri-Sun drink wins false advertising award »
- 15/05 Anaemic economy feels winter chill »
- 15/05 ThyssenKrupp bins 3,000 admin jobs »
- 15/05 Pay deal for metal workers averts strike »
- 14/05 First ever strike hits Amazon's German unit »
- 14/05 Volkswagen plans giant car plant in China »
- 13/05 Metal workers enter huge warning strikes »
- 16/05 Rob for Russian Speaking
- 16/05 pet carrier
- 16/05 Big Sister/ Nanny
- 16/05 I need an apartment any where in or near to Stockholm
- 15/05 English speaking babysitter
- 15/05 Lookinf for track driver job!
- 19:55 Where to buy rubbing alcohol?
- 16:49 Posting parcel from Sweden
- 15:34 Drinking laws in Sweden confused!
- 15:31 In need of a home in Uppsala from August...
- 14:57 Questions Regarding Swedish Literature
- 13:18 What does Lagom really mean?
- 12:26 Does any business owner needs a partnership
- 09:38 Online Shopping (Womens Clothing)
- 20:46 Questions concerning MV
- 19:25 My scary encounter with Swedbank.
Individuals & Couples - Stockholm Beth Rogerson PhD - Clinical, Marriage & Family Therapist
Click or call 08-5580 1266 now
Create an account with Banc De Binary, the world’s most reputable binary options firm, and start cashing in today! You can start by practicing with our free $50,000 demo account.
www.bbinary.com
Expat counsellor & talk therapist offers counselling for stress, relationship issues, sexuality, culture adjustment & life coaching. Private & confidential. Stockholm or Skype. Contact me today! 08-559 22 636 or
CLICK HERE
Casa Birgitta in Algarve, Portugal. Reduced price in best location. Private estate on white sand beach. All amenities included. Book here today! edward_george1@hotmail.com
Find products and services that are specifically focused on English speakers living in Sweden!
FULL DETAILS
Your comments about this article:
The comments below have not been moderated in advance and are not produced by The Local unless clearly stated. Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.
1. Stranger Krona
2. Weaker Euro
= cheaper beer imports :)
It is not because the long hard winters, year after year, made people learn how to get along, work and survive together without the idea of screw'em! That was turned into a religious principle in Wall Street, preached by Reverend Ayn Rand and followed for 40 years by the most financially powerful man in US Gov't,
The secret is simple and known in Scandinavia and Switzerland, all with very long and cold winters. Can you imagine how they survived without electricity or oil? Yes, they had to go out and cut wood, and plan on the next day, week, month, etc. They had to learn to be trustworthy and trust over centuries.
People want Swiss Security and Celtic reliability. Next: Scandinavian ingenuity.
I know that the swiss central bank have made a mistake by not correcting with the euro sooner, I don't think the Swedish central bank will make the same mistake as the Swiss
Now after reading the story, my doubts are even stronger.
Anyone who wants to bet a better idea about this story should google saxo bank and see what it brings up ;) lol
The lunatics have moved from the back rooms to the board room.