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ECONOMY

Spain’s Euro win ‘bad for Swedish economy’

Fernando Torres' goal in the final of Euro 2008 may be a boon for Spain but economists reckon that a bullet from Ballack would have been of greater benefit to Sweden.

Around ten percent of Sweden’s exports make their way to Germany, and happy Germans are more likely to spend than disappointed Germans.

“The result in the final wasn’t the best as far as we’re concerned. Germany is our biggest trade partner. It would have been better if a big country like Germany had secured a win and become a bit more upbeat,” SEB economist Tomas Lindström told TT.

Lindström did not believe speculation however that it might have been better for Sweden had Germany not made it to the final at all.

“The final is at least somewhat positive for Germany, but it will pass quickly,” he said.

Rough estimates suggest that the Spanish economy will grow by an extra 0.5 percent as a result of Torres’ deft chip over German keeper Jens Lehmann.

But the effect of a championship victory will never be enough to stave off a recession, leaving Spain facing continued problems with sky high inflation.

SAS

‘We agree to disagree’: Still no progress in marathon SAS strike talks

By lunchtime on Friday, talks between the Scandinavian airline SAS and unions representing striking pilots were still stuck on "difficult issues".

'We agree to disagree': Still no progress in marathon SAS strike talks

“We agree that we disagree,” Roger Klokset, from the Norwegian pilots’ union, said at lunchtime outside the headquarters of the Confederation of Swedish Enterprise in Stockholm, where talks are taking place. “We are still working to find a solution, and so long as there is still some point in continuing negotiations, we will do that.” 

Mats Ruland, a mediator for the Norwegian government, said that there were “still several difficult issues which need to be solved”. 

At 1pm on Friday, the two sides took a short break from the talks for lunch, after starting at 9am. On Thursday, they negotiated for 15 hours, breaking off at 1am on Friday morning. 

READ ALSO: What’s the latest on the SAS plane strike?

Marianne Hernæs, SAS’s negotiator on Friday told journalists she was tired after sitting at the negotiating table long into the night. 

“We need to find a model where we can meet in the middle and which can ensure that we pull in the income that we are dependent on,” she said. 

Klokset said that there was “a good atmosphere” in the talks, and that the unions were sticking together to represent their members.

“I think we’ve been extremely flexible so far. It’s ‘out of this world’,’ said Henrik Thyregod, with the Danish pilots’ union. 

“This could have been solved back in December if SAS had not made unreasonable demands on the pilots,” Klokset added. 

The strike, which is now in its 12th day, has cost SAS up to 130m kronor a day, with 2,550 flights cancelled by Thursday, affecting 270,000 passengers. 

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