Tourists recommended cash by SEB for Greece visit

Swedish holidaymakers heading for Greece this summer were reminded today by SEB to bring cash in case cash machines and credit card networks operated by banks and other financial institutions cease functioning as a result of any systemic collapse.

The Swedish bank has started running a list of recommended actions holidaymakers should consider, on its website, which today added a webcast involving Robert Bergqvist (pictured), chief economist, and Johan Hagbarth, investment strategist, answering questions about Greece in the wake of yesterday’s elections.

Other concerns of Swedish customers include the forward direction of Swedish interest rates, and whether the ongoing problems of Southern Europe affect commodities exporters primarily located in Northern Sweden (iron ore, timber).

Bergqvist said that more important for exporters are developments in key Asian markets, given the relatively low proportion of sales to Southern Europe by Swedish exporters.

As to local interest rate developments Bergqvist said he was more concerned about the inflation rate becoming too low, in light of the monetary easing and
quantitative measures put in place by many central banks.

To review the webcast in Swedish click here: http://www.seb.se/pow/wcp/templates/sebarticle.cfmc.asp?duid=DUID_A59CE77D08A06838C1257A1D004DD37E&xsl=se&sitekey=seb.se

 

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