Economy

The Euro debate 

Sawing the euro: Can lend 2000 billion to Italy 

Finland's experience with euro cooperation should serve as a deterrent example for Sweden. This is what both former Finance Minister Anders Borg and Nordea's former chairman Björn Wahlroos think. 

 

In SVT's Ekonomibyrån, Borg tells that he has wavered on the issue since the referendum in 2003. 

 

- A dimension has been added and that is the banking union. Finland has contributed 100 billion in loans to the euro countries. For Sweden, it would have been 200 billion, says Borg.  

 

He adds that support of up to SEK 2,000 billion could be required if a crisis breaks out in the Italian banking system.  

 

Björn Wahlroos also believes that Sweden has made the right choice, even though he understands that it annoys many that the trips have become more expensive. 

 

- But then also consider that you have a lot of industries left that Finland does not have, he says and adds that the crown has saved "a lot of jobs".  

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Tesla's quarterly report  

"Musk behaved like a child and was ready to cry"  

 

Tesla plummeted on the stock market last week after missing analysts' expectations in the latest quarter. CEO Elon Musk is now receiving criticism for his actions during the report presentation, reports Business Insider and Yahoo Finance.  

 

Musk acted more "like a small child" than a leader and was "almost in tears" at one point, claims analyst Kevin Paffrath.  

 

He points out, among other things, that the Tesla boss hinted that the construction of a new giant factory in Mexico may be postponed due to the high interest rate situation. 

 

- It is pathetic to cry about the economy instead of grasping the situation and coming up with a plan, says Paffrath. 

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China's global ambitions 

China has arrested personnel employed by foreign companies 

Chinese authorities this weekend began a legal investigation into the Taiwanese iPhone manufacturer Foxconn. At the same time, a former manager and two employees at British WPP, one of the world's largest advertising agencies, were also arrested, reports Bloomberg.  

 

These are some of the latest legal interventions against foreign companies and their employees that China has implemented recently, something that challenges confidence among foreign companies in the country, according to the news agency.  

Earlier this year, Chinese authorities arrested an employee at a Japanese metal trading company, and earlier in October, a person at the Japanese pharmaceutical company Astellas Pharma was charged with espionage.  

 

According to China economist Alicia Garcia Herrero at the investment company Natixis, it is not a matter of scaring the foreign companies, but of warning the own elite. 

 

- The country's leaders worry about foreign influence as distrust of the state, among the elite, increases, she says.