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Reinfeldt: eurozone crisis 'of your own making'

Rebecca Martin · 11 Aug 2011, 11:29

Published: 11 Aug 2011 11:29 GMT+02:00

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“It’s reflecting how parts of Europe and the US have been living above their means for a longer period of time,” he said to Sveriges Television (SVT) on Wednesday.

And according to Reinfeldt there is now a gap between what leaders say should be done to solve the crisis and what is actually being done.

“What needs to happen is that they act on the promises they make. If you look at the austerity packages presented, they are not as powerful as was promised,” he said.

When asked if Sweden, which so far hasn’t contributed too much to its crisis stricken European neighbours, should be doing more to help countries like Greece, Reinfeldt answered that Sweden is far from having done nothing and that the government will judge each case individually to see what help Sweden can offer.

He was not in favour of Sweden increasing financial support to other cash-strapped European countries unless these show that they are doing everything they can to solve it themselves.

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“If you have been living above your means you can’t be allowed to continue to do so by borrowing money from others. You have to tell these countries that this is their own problem, that the solution is in their own hands,” Reinfeldt told SVT.

Rebecca Martin (rebecca.martin@thelocal.se)

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Your comments about this article

12:55 August 11, 2011 by Iraniboy
Another wise comment from a wise person!
13:46 August 11, 2011 by J. L. Belmar
Finally he shows some guts.
14:26 August 11, 2011 by AlexCN4
i think he have right, i dont know so much about swedish prime minister...but other countries to resolv their problems..if Sweden help..can have problems self with crissis after...about Western Countries to resolv the problem with U.S. because they always kissed in ass on U.S..the situation is really bad and i see that does not improve.
15:13 August 11, 2011 by andyron2
Good agressive n sensible remark.Way to go!
15:25 August 11, 2011 by Mb 65
It's about time someone with a back bone stood up to these countries that do nothing to help themselves, and expect other countries to bail them out. they should let them go bust that would wake them up.
16:07 August 11, 2011 by Twiceshy
Those countries are getting bailed out not in order to rescue them, but in order to rescue the foreign banks which invested in those countries' bonds.
18:28 August 11, 2011 by J. L. Belmar
He was gutsy because his Nollberta Allheinious is on holydays.
19:34 August 11, 2011 by Grokh
to act on promises they have made for the corporations that paid for their elections ?

its not enough that some billionaires get insecure and an entire country middle class crumbles, so governments take money from the people to cover holes that stock brokers with gambling problems made?

All these crisis have become fashion and im sick and tired of them to the point that i start to think they are all fabricated since in most countries that get affected some people get even richer, portugal for example had a huge increase in rich people at the same time the rest of the country crumbed, this is all corruption at the highest level and the manipulation of markets without punishment keeps happening and sooner or later someones head will roll.
23:24 August 12, 2011 by axiom
He is right, I have so much respect for this man.

Well said!
21:08 August 13, 2011 by Token-not-found
I hope the union doesn't fall before 2013-2014, in 2013 will fall the insanely heavy work restrictions for Romanians and Bulgarians in the EU. In countries like Germany and UK we have almost the same restrictions as the Indians or Chinese , which is insane considering we are part of the EU.

I love Norway and Sweden as i am part nordic myself and hope one day to move there, but it's almost impossible for someone from Romania to live in Sweden.

Mostly because of the standard of living difference between the two countries, example: with an average wage in Romania you can only live a few days in Sweden , even less in Norway.

That's putting aside the inadequate language requirements , that does not consider that before one can learn the language and put effort into it one must have means of support. How can one learn the language when one cannot support himself (no food or shelter) ? You need a job first , after you earn a stable financial situation , only then can you put the effort in.

I hold a deep love for Norway and Sweden , i hope one day i will be able to move there.
18:20 August 26, 2011 by astra2thor6
Token-not-found: If you are a citizen of an EU country you must prove that you can support yourself (and family) without Swedish social security benefits before you are permitted to remain in Sweden over three months; this rule prevents would-be social security benefit scroungers from milking the system. I think that the Swedish authorities should apply these rules to all immigrants (excluding genuine political refugees) seeking Swedish citizenship.
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