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Europe's Growth Challenges Long-Term, Sweden’s Borg Says

Europe has long-term economic growth challenges and needs expansionary fiscal and monetary policies, Swedish Finance Minister Anders Borg said.

“Europe has actually grown very, very slowly; we’re talking of below half a percentage point over the last six, seven years,” Borg said during an macroeconomic policy conference in Washington today. “Fundamentally, there is a growth problem in Europe that is not short-term.”

Borg also said that Sweden needs expansionary fiscal policy for reasons that include high unemployment.

To contact the reporter on this story: Kasia Klimasinska in Washington at kklimasinska@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net

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