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Analysis
Scandinavia: Our financial Waterloo
While a little more settled of late, the markets are still in relative turmoil. We are faced with an unprecedented financial crisis, the depth of which is unknown. Despite the various government-backed initiatives, stock markets have lost up to a third of their value and banks continue to look vulnerable. Perhaps the best way to gauge what is going to happen in the future is by looking back to previous crises. The Swedish financial market faced complete meltdown in 1992, and, although far smaller-scale than the present situation, the crisis offers some interesting lessons.
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