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.
Sweden might nationalize banks
Swedish banks in trouble after lending more than $75 billion to Latvia, Lithuania and Estonia