A few ealry market thoughts by Marc Chandler of Marc to market.
While majority of countries within Europe have been under severe stress, Sweden has been the country managing the financial crisis most professionally. Having experienced hardship in the early 90′s, Sweden has learnt many lessons, and has been working on restoring a sound Economy. While Europe has been under attack, Sweden has been flourishing. At times, Sweden is somewhat boring, but could teach the “hot” Med countries a lesson or two.
So, what is the Swedish receipt? From Bloomberg;
The value of monetary independence is the first and most important Swedish lesson. Sweden stayed out of the euro system when the currency was introduced in 1999, and in the past several years, the government has used this monetary flexibility to the full.