A disproportionate amount of foreign-born people have debt registered at Sweden’s state bailiffs Kronofogden, with 64 percent more debt relative to their proportion of the country's population. And the disparity is growing.
Swedes are richer than ever before, but household debt in the country continues to grow at the same time, new statistics from one of the country’s major banks show.
Around eight million debt collection notices were sent out in Sweden last year, an increase over the year before, according to a trade group. A greater willingness to buy on credit these days means more people are unable to pay off their debts.
The Swedish economy is beginning to recover after several difficult years - but the risk for household indebtedness remains high, Swedish Riksbank Governor Stefan Ingves warned.
After reviewing Sweden's mortgage-repayment system, the Swedish Financial Supervisory Authority (Finansinspektionen, FI) is considering enforcing compulsory mortgage amortization for Swedes as debt burdens surge.
Attempts to help Greece avoid bankruptcy appear doomed to fail, Swedish Finance Minister Anders Borg said Thursday, adding however that Athens might still manage to cling to the euro.
Sweden, Norway and Denmark pledged $26 billion to the new IMF crisis funding Tuesday, taking the total raised so far to $286 billion, Fund managing director Christine Lagarde announced.
The Swedish economy is set for a major slowdown in 2012, according the spring budget presented on Monday by finance minister Anders Borg, who warned for the "downside risks" amid the continued economic uncertainty.
Saab has announced official figures of their multi-billion kronor debt, as the struggling car manufacturer and its assets go under the hammer on Tuesday.
Sweden's parliament on Friday gave as expected the government a green light to support the eurozone pact on fiscal discipline at an EU summit next week, as long as certain terms are met.
The Social Democrats on Thursday dropped their longstanding opposition to Swedish participation in the eurozone pact on fiscal discipline, after reaching an agreement with the government of Fredrik Reinfeldt.
Sweden agreed on Monday night to help stabilize the euro by pledging to make loans to the International Monetary Fund (IMF) to strengthen a eurozone bailout fund.
European leaders have failed to help solve the current debt crisis, and Sweden shouldn't think of signing on to a plan that amounts to an attempt to remake Europe into a super-bureaucratized dream, argues Swedish liberal commentator <b>Johan Norberg</b>.
Swedish finance minister Anders Borg has called for renewed pressure Wednesday on the European Central Bank (ECB) to stop the euro debt rot from bringing down the global financial order.
Seemingly undeterred by the debt crisis, Swedish households are taking out more new loans than any other Europeans, according to a comparison of mortgages made by national TV station SVT.
Sweden's King Carl XVI Gustaf has taken a swipe at embattled Greek prime minister George Papandreou for proposing a referendum on a bailout plan to help the debt-laden Greek economy.
The current debt crisis is a concern for all of Europe, not just to eurozone countries, Swedish Finance Minister Anders Borg tells AFP's <b>Nina Larsson</b>, highlighting the vulnerability of banks and exports in Sweden as an example.
Sweden may have some of the strongest public finances in Europe but its banks are more vulnerable than most in the current euro debt crisis, Finance Minister Anders Borg said in an interview published Wednesday.
Swedish finance minister Anders Borg on Tuesday defended the government's autumn budget proposal on against charges that it was overly optimistic in a spirited debate with his Social Democratic counterpart on the the floor of the Riksdag.
Sweden's government has forecast that growth in Sweden's GDP will fall sharply, from 4.1 percent in 2011 to 1.3 percent in 2012, warning that the fall could be even worse in its budget statement presented on Tuesday.
Swedish Finance Minister Anders Borg called on Wednesday for more pressure on debt-ridden Greece and Italy to straighten out their floundering public finances.
The Stockholm stock exchange was down 6.2 percent on Thursday afternoon when trading closed, making the drop the steepest since November 2008. A broad fall among other European stock markets means fears of a recession are mounting.
