Sweden’s Riksbank cut its benchmark interest rate for the first time since February, caving in to calls from exporters, as the krona’s strength and deepening euro crisis threaten the nation’s trade competitiveness.
The U.K. pledged more money rescuing banks during the credit crunch than on any project in British history outside of world wars. And the cost keeps rising as the government looks for ways to get its money back.
Swedish Prime Minister Fredrik Reinfeldt won a second term in office, though his four-party coalition will rule as a minority after the anti-immigration Swedish Democrats won seats in parliament for the first time.
A sale of the British taxpayer’s 65.8 billion-pound ($107 billion) stake in Lloyds Banking Group Plc and Royal Bank of Scotland Group Plc is likely to start next year, creating a one-time budget windfall before the next election, according to four people familiar with the talks.