Close-by crisis raises reform pressures in the Baltic Sea Region
PMI drops to 44.7 in September – the downward trend in industry continues
On Friday 21 September the Ethics Centre of the University of Tartu, the University of Tartu Foundation and Swedbank in Estonia signed an agreement for the awarding of business ethics scholarships to doctoral students.
When is the right time to pursue expansionary fiscal policy - when Sweden is doing well and has a surplus or when the economic cycle weakens and you need stimulus to strengthen it? Should the government be cautious during bad times to ensure it has reserves for even worse times?
The Swedish Business Award will be held in Vilnius today. Swedbank's CEO Michael Wolf will talk about the future of the banking sector. Follow the ceremony online.
The 2013 Annual General Meeting of Swedbank AB will be held in Stockholm, Wednesday 20 March, 2013.
The focus at Swedbank's Economic Outlook Seminar was naturally on the eurozone. We asked the initial question: After the German constitutional court approved the ESM with some minor reservations, politicians started to discuss the forms of a banking union, and the European Central Bank (ECB) announced that they were buying crisis countries' government bonds on condition that reforms are implemented - is the eurozone thus on the right track?
Swedbank Economic Outlook
Swedbank Economic Outlook Seminar 2012 gathered some of the world's leading business economists and central bank representatives in Stockholm Thursday 13 September.
Swedbank Economic Outlook Seminar
The leaders of the Baltic State and the Nordic region banking sectors – Nordea, SEB and Swedbank – have set up an education support programme for students of the Stockholm School of Economics in Riga (SSE Riga). Under the Panākumu atslēga programme, students were presented with one of the largest donations in the university’s history – 1.8 million euros (15 million Swedish kroner, SEK). Thanks to the three banks’ donation, 720 scholarships will be granted to students from Latvia, Lithuania and Estonia over five years, so reducing their tuition fees.
The start-up facility Prototron is aimed at supporting the development of innovative ideas into a first prototype or finished product. The prototype fund was established by Swedbank, Tallinn Science Park Tehnopol and the Tallinn University of Technology. Swedbank will support the fund in the first three years of operation with a total of 120 000 euro.
This Thursday, some of the world's leading business economists and central bank representatives will participate in the Swedbank Economic Outlook Seminar. The aim is to try to understand economic policy during and after the crisis: How can monetary policy be used when the repo rate is already close to zero? Will the fiscal tightening not only create a recession but also a depression in the crisis countries of southern Europe, and how can this be prevented? What regulations are required in the aftermath of the crisis?
Swedbank Economic Outlook Seminar
The housing affordability index (HAI) increased to 164.5 in Tallinn, 109.8 in Vilnius, and 138.3 in Riga
Awaiting the central banks
Annual consumer price growth remains at 1.7% in August
Unexpectedly, prices increase by 0.2% in August
The Riksbank surprised the markets by lowering the repo rate to 1.25 per cent at its meeting last week. The argument for a cut was that during the summer the krona had strengthened more quickly than previously anticipated.
The Riksbank's announcement was preceded by a high pitched exchange of views. The Riksbank was perceived as being too slow. The vast majority of analysts and players had advocated a rate cut, including myself. A few considered that rates were already low enough and would even need to be raised. What good (or harm) does a monetary policy actually do these days?
Latvian annual GDP growth was 5.9% in 1H 2012
Economic growth in 2Q founded on domestic demand