Friday, April 3, 2009

Sweden extended the program through banks.

The Government of Sweden has decided to extend the program through the financial system for six months. The plan entails the allocation of banks to 1.5 trillion crowns (more than 138.5 billion euro). Reported AFP.
Recall that a plan of assistance to the Swedish financial system was approved by Parliament in October 2008. It was expected that he would work until 30 April 2009, but now dates the end of the plan shifted to 31 October. The validity of the program may be extended by the Government before the end of the year.
Program of Assistance to financial institutions include the introduction of the Swedish gosgaranty loans, as well as the creation of crisis fund, which will be pumping in the banking sector in Sweden.
In February 2008 the Swedish Government has decided to pour in banks to 50 billion kroner (4.7 billion euros). In exchange, the government granted the right to purchase the additional issue of banks. This is necessary to improve the liquidity of credit organizations in the country.
According to the Government of Sweden, the country's GDP in 2009 decline by two percent. The economy of Sweden has entered into recession in the third quarter of 2008.

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