Sweden points the way out of euro crisis

Speaking at the World Economic Forum in Davos, British Prime Minister David Cameron has called for tempo and resolution in resolving the euro crisis. The liberal-conservative daily Neue Zürcher Zeitung cites the Nordic Countries as models for socially compatible economic development: "At the start of the 1990s Sweden and Finland were over-sized welfare states beset by an economic and banking crisis just as severe as the one faced today by Europe's problem states. Today these countries are among the richest and most successful in Europe, without having sacrificed their social cohesion. ... The view that to be successful in the future Europe must be permanently reformable while ensuring a certain social cohesion has interesting implications: for example, that while economic prosperity may require success-oriented inequality, an overly large gap between the elite and the rest of the population will only harm growth. Or that burdening the middle class with ever-higher taxes is counter-productive."

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