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Finnish Eurovision

The introduction of the euro in Finland has forced investors to acquire new credit skills, but across the border in Sweden, the preservation of the krona is stifling the development of a genuine credit market. David Watts reports.

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Since the introduction of the euro in January 1999 Finland has been a member of the fastest-growing corporate debt market in the world. Sweden has not. This has created startling differences in the choices facing the two countries’ fixed income investors.

The euro-denominated corporate debt market has reached €1.1 trillion in size since 1999. In comparison, the corporate debt market in Sweden –

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