Swedish banks in trouble after lending more than $75 billion to Latvia, Lithuania and Estonia
Is the economic crisis ebbing, or is the worst yet to come? Yesterday, the Swedish government announced that it might have to nationalize its banks in order to cope with a spiralling financial crisis in the Baltic States. Swedish banks have lent more than $75 billion to Latvia, Lithuania and Estonia. And there are fears that the fiscal troubles in the former East Bloc states could touch off a domino effect throughout Europe.