World Bank Voices
Syndicate content

Add new comment

European Association of European Public Banks (EAPB) convenes its third Chief Economist Meeting in Sweden and discussed "-Can the Euro Zone learn any lessons from the rapid Swedish recovery after banking crisis?" Chief economists and experts of EAPB Member Banks and partners from various European countries took part in the meeting and gave their opinion on the current economic situation. Further contributions by Mikael Sandström, State Secretary to the Swedish Prime Minister, Fredrik Reinfeldt and by Claes Berg, Advisor to the Governor at Sveriges Riksbank were on the agenda. As a major focus point the issue was raised whether the Euro Zone can learn any lessons from the rapid Swedish recovery after the banking crisis and if so, which ones. It was concluded there are six key areas in which the euro zone could benefit from the Swedish recovery: 1) The Government has to be quick to act 2) Liquidity needs to be kept into the banks 3) Public finances need to be put in order 4) Work shall be made to pay again such as reforms to tax credits and benefits 5) Long term growth plans should be put in place through pensions reforms and competition 6) Weaker groups’ employment possibilities need to be supported with education and vocational training The group discussed the importance of political consensus if the six above-mentioned pieces of advice were to be implemented. Two more areas were tackled. On the one hand the global financial crisis and the Great Recession including factors which influence a sustainable financial environment was discussed. On the other hand there was the issue of demographic challenges to the EU Member States with regard to adequate retirement income and future health care expenditures. Lena Bäcker Chief Economist at Kommuninvest in Sweden, Moderator at the Chief Economist Network and Senior Advisor at Swedish Government expert bodies.

Plain text

  • Allowed HTML tags: <br> <p>
  • Lines and paragraphs break automatically.