Andersson disappointed

Social Democratic Finance Minister Magdalena Andersson said she was disappointed to hear the news of Nordea’s move to Finland but saw no reason to review government policy. The government has a responsibility to ensure financial stability and provide a sound environment for companies, she commented, pointing out that Nordea had posted a profit of SEK 40 billion in 2016.

Green Financial Markets Minister Per Bolund said there was broad political unity in Sweden not to join the banking union for the time being. However, the government had now decided to analyse the advantages and disadvantages of Swedish membership.

Ulf Kristersson, the Moderate economic policy spokesman, commented that the government, with its plans for extra regulation and a bank tax, had “undermined confidence that Sweden is a country with stable long-term regulation”.