The costs of running high debt levels to society would be severe, Borg added. The Swedish Finance Minister also warned that that failing to cut borrowing soon would make it harder for governments to support growth if another downturn occurs in coming years. In their discussion, Borg and Darling had also taken up the issue of Iceland’s debts to Britain and the Netherlands, but both ministers refused to publicly comment on their conclusions.
Our journalism is based on credibility and impartiality. Swedish Radio is independent and not affiliated to any political, religious, financial, public or private interests.