Banks not saved for their sake - Sveriges Ingves

We are not saving banks and their management for their own sake or the sake of their shareholders, said Stefan Ingves, the governor of the Sveriges Riksbank.

Speaking to Swedish lawmakers, Ingves said that the Riksbank, other authorities and the political system were acting quickly and forcefully to minimise the costs to society as a whole. He stressed that if the authorities would not forcefully counteract the crisis there was a risk that it would have a strong impact on inflation and growth.

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