Word: baeckstroem
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Dates: during 2008-2008
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...precedent, in Sweden, which in the early 1990s solved its own banking crisis by guaranteeing deposits, injecting huge amounts of liquidity into the banking system via the central bank, and forcing banks to write down the value of their assets very quickly. In describing why that bailout worked, Urban Baeckstroem, the former Swedish central bank president who played a central role in the rescue, has identified some other vital measures. The first is that the Swedish government quickly moved to clean up government finances at the same time as it bailed out the banks. The second is that monetary policy...
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