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The governor of the Riksbank said he has grown more confident that Sweden will avert a real estate-led financial crisis even as some landlords leveraged to the hilt are failing to refinance maturing debt.
“I think we have a slightly more positive view of where we’re heading, but we are very alert,” Erik Thedeen said in an interview at his office in central Stockholm on Thursday. “I’m a little bit less concerned of the tail scenario, a really bad scenario, but I’m still concerned that we have a highly indebted commercial real estate market. That is still an overall risk for the Swedish economy.”
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