Joint statement from the Ministers of Finance in Denmark, Finland, Norway and Sweden regarding help to Iceland
The IMF Executive Board has today approved a financial package for Iceland. This is a first step to get Iceland out of its current serious financial and economic situation. The banking crisis in Iceland is of unprecedented proportions and has serious implications for the country's economy.
Government takes measures to strengthen financial stability
The Government has today approved a guarantee programme that will be administered by the Swedish National Debt Office. The programme aims to secure the medium-term borrowing of banks and mortgage institutions and lower the cost of borrowing for households and companies. The Government is also giving the National Debt Office a broad mandate to intervene if individual institutions get into serious financial difficulties under the new act on state aid to credit institutions.
The Government widens the deposit guarantee
The Government has today decided to widen the deposit guarantee to protect Swedish depositors.
The Swedish Government proposes plan to secure the stability of the financial system
The Government will today refer a stabilisation plan for Sweden to the Council on Legislation. The plan includes measures to secure financial stability in Sweden and to deal with the negative effects of the global financial crisis. The proposal includes the creation of a guarantee scheme to restore confidence in the markets and thereby reduce borrowing costs for households and businesses.
The budget for 2009: Putting Sweden to work - safeguarding welfare
On September 22 the Swedish Government presented the Budget Bill for 2009, containing reforms for jobs, the future and welfare. By initiatives totalling SEK 32 billion the Government is acting to mitigate the effects of a weaker economic environment, permanently raise the level of employment and strengthen welfare. The Government's aim is to meet current problems and in the same time prepare Sweden for the future.
The Swedish State Divests the Beam Shares and Finalises the Vin & Sprit Sale for SEK 58 bn
Following the closing of the sale of Vin & Sprit yesterday to Pernod Ricard, the Swedish State has agreed on the terms of Fortune Brand's repurchase of the shares in the American liquor company Beam (Beam Global Spirits & Wine, Inc).
Swedish Government sells Vasakronan for a value of SEK 41 bn
Today, the Swedish Government decided to sell the property company Vasakronan to AP Fastigheter. The total value is SEK 41.1 bn. An agreement was signed earlier today.
Statement regarding France Telecom's withdrawal of the indicative proposal
The minister of financial markets and local government, Mats Odell, gives the following statement:
"As one of the principal shareholders of TeliaSonera we have followed closely the discussions between France Telecom and the board of directors of TeliaSonera. When France Telecom announced their indicative proposal on June 5, we stated that the offer did not reflect the full value and potential of TeliaSonera. France Telecom today announced that they withdraw their proposal to combine with TeliaSonera. The Government's intention to reduce its ownership in TeliaSonera remains unchanged."
The Government Sells Vin & Sprit for SEK 55 billion
The Government of Sweden has agreed to sell V&S Vin & Sprit AB (V&S) to Pernod Ricard S.A. (Pernod Ricard), one of the world's leading wine and spirits companies. The total value of the transaction for V&S, owner of the Absolut vodka brand, is equivalent to SEK 55 billion in accordance with the agreement signed on Sunday March 30.
Re-establishing the Swedish model
On Wednesday Minister for Finance Anders Borg addressed The Economist's first roundtable conference with the Swedish Government. The title of his speech was "Re-establishing the Swedish model".
