Riksbank's Persson: Making the European financial system safer


At the start of the 1990s, the Swedish banking system was brought to its knees by bad real estate loans. But the memories of that crisis helped protect Sweden when US subprime mortgage risk threatened to choke the global financial system – so says Mattias Persson, head of financial stability at the Riksbank, Sweden’s central bank.

During the crisis, domestic authorities co-operated, banks were exposed to severe stress tests, the results were made public and the industry was quickly shored up

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