Anders Borg: Swedish banks should regard Baltics as their home

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Swedish finance minister Anders Borg who visited Tallinn yesterday and had a meeting with the Estonian finance minister Jürgen Ligi said that he has a message for Swedish banks that operate at home, writes

Borg said that large Swedish banks should behave in Estonia and other Baltic states like it was their home.

“They must do the right thing, be responsible and meet both home and host rules. This should avoid banks collapsing in the way we have seen in the rest of the European Union,” said Borg.

He added that there was no such thing as too much banking supervision.

Borg who in 2011 was named Europe’s best finance minister added that when he looks at countries like Finland that belongs to the eurozone, it is clear that if you run your economy well, the country can be successful also in the eurozone.

“But if you make mistakes like it has happened in Latvia or Iceland, you can fail also outside the eurozone,” said Borg.

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