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Sweden would strengthen the Nordic voice in the banking union

Sweden is now considering joining the banking union. The Government of Sweden will conduct a thorough analysis on Sweden’s position, and the final decision will be made by November 2019. Discussions about union membership are also ongoing in Denmark. Finance Finland (FFI) encourages both countries to join.

"Making the Nordic voice stronger in the union would definitely be a good thing", summarises Veli-Matti Mattila, Chief Economist at FFI.

Nordic banks have much in common. Some banks operate in multiple Nordic markets simultaneously, and national banking associations already cooperate across borders in solvency and liquidity regulation, for example.

FFI supports the banking union because it creates a more stable operating environment for Finnish businesses and facilitates economic growth. FFI does, however, take a critical stance towards increased shared responsibility in the banking union and in the EMU. "This is because the health of the member countries' economies and financial sectors varies greatly", Mattila explains.

Press release by the Government Offices of Sweden (in English)