Swedes face big hit if rates rise
James Savage · 30 Jul 2007, 18:26
Published: 30 Jul 2007 18:26 GMT+02:00
Sweden was listed by Fitch as the fifth most vulnerable country due to a combination of overvalued property and high consumer debt.
Several years of skyrocketing house prices and heavy borrowing means the economy could find itself in a tight spot if the situation were to change suddenly.
New Zealand, Denmark, the UK and Norway were in a more vulnerable position than Sweden, while house prices were lowest compared to incomes in Japan, Germany and the Netherlands.