Finance minister Anders Borg

200 billion dollars for troubled banks

The government has presented its emergency plan for stabilizing the country’s bank structure on Monday. The plan includes granting 200 billion dollars to banks and mortgage companies to enable them to cope with the aftermath of the global financial crisis.

2.5 billion dollars are being provided as a guarantee for private savings. Finance minister Anders Borg expressed hope that the stabilization measures will take effect before the end of this month. They are to be limited to the end of April 2009 but may be prolonged until the end of the year.   

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