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Swedish Finance Minister Anders Borg said he won’t cave to pressure from banks or the European Union to harmonize standards and insists capital ratios in the largest Nordic economy need to be higher than those elsewhere.
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Modern Times Group AB, the Swedish broadcaster with operations in 36 countries, advanced the most in 10 days in Stockholm trading after Svenska Handelsbanken AB recommended clients to buy the shares.
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The 10 largest U.S. prime money market funds’ holdings of Deutsche Bank AG securities declined to the lowest in almost two years as Germany’s biggest bank cut its reliance on short-term financing.
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Denmark is shelving indefinitely its euro adoption goal as Prime Minister Helle Thorning-Schmidt says an exchange rate peg without full European monetary membership is proving the best currency regime for the Nordic nation.
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Denmark’s opposition bloc said a proposal to raise capital buffers for the biggest banks is too draconian as lawmakers fail to find common ground on how to treat the lenders.
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Swedish Finance Minister Anders Borg said banks in the largest Nordic economy are taking too long to wean themselves off foreign funding as he warns the financial industry will need to pay for the risks it’s creating.
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Vestas Wind Systems A/S jumped to the highest price in 14 months in Copenhagen as banks raised their share price estimates amid signs the turbine maker is succeeding with its plan to end losses.
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Norway’s krone rose to the highest against the euro in almost a month after inflation in Europe’s second-richest nation per capita accelerated more than estimated, damping interest rate cut speculation.
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Denmark’s government says it has exhausted all avenues for adding stimulus as the economy shows signs of sinking into its third recession since the global financial crisis started.
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Today’s rate cut from the European Central Bank is testing the limits of Denmark’s monetary policy tool box.
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