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GERMANY

Sweden home to more than 48,000 millionaires

One of 200 Swedes is now a millionaire. In total, 48,300 people in Sweden had assets worth more than $1 million (7.74 million kronor) last year, excluding home and collectible values, according to Capgemini and Merrill Lynch Wealth Management's 14th annual World Wealth Report.

Sweden home to more than 48,000 millionaires

In addition, the number of millionaires in US dollars, which the report described as “high net worth individuals (HNWI)” increased 21.5 percent in Sweden last year, compared with 12.5 percent in Europe and 17.1 percent for global growth.

“The Swedes have a relatively high proportion of equities in their portfolios and growth on the Stockholm Stock Exchange was stronger than on the stock exchanges in many other countries,” said Robin Segerfeldt, head of asset management at Capgemini.

“In Europe, it is more common with a higher proportion of fixed-income securities and a lower proportion of equities.”

In 2009, the number of dollar millionaires increased around the world to 10 million people. Accordingly, the record-setting decline in 2008 has nearly recovered.

The majority of dollar millionaires continue to come from the US, with 3.1 million people. The US, Japan and Germany are home to 53.5 percent of the millionaires, a slight decrease from the 2008 share of 54 percent.

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SECURITY

Sweden’s US-style airport security plans criticised

Several authorities have criticised plans to introduce a new law that would provide for US security checks on United States-bound passengers at Stockholm’s Arlanda Airport.

Sweden’s US-style airport security plans criticised
Stockholm Arlanda Airport. File photo: Stina Stjernkvist/TT

The measures have been censured for being too expensive and lacking a sound legal footing, writes Svenska Dagbladet.

Several shortcomings exist in the government’s plans to implement the proposal, which would see armed US personnel carry out security checks at Arlanda, Swedish police said according to the newspaper.

Police legal advisors said American security at the Stockholm airport would require “some of the most far-reaching restrictions that can be made to a state's sovereignty”.

Sweden’s legal ombudsman, Data Protection Authority and Customs Service (Tullverket) all criticised the proposal, though the Public Prosecutor (Åklagarmyndigheten) and Civil Aviation Administration (Luftfartsverket) did not raise any objections, according to the report.

A bill is expected to be presented by the government in the spring.

READ ALSO: Drone halts air traffic at Stockholm's Arlanda Airport