Swedish Krona Falls to Record Versus Euro; EU Rejects Aid Plan For the full story, see http://0rz.tw/08qKv Sorry that I am unable to type Chinese now. Excerpt of this new is pasted below. Translations are welcomed. Eastern Europe Concerns EU leaders yesterday vetoed an appeal by Hungary for loans of 180 billion euros ($228 billion) for ex-communist economies in eastern Europe, and told carmakers such as General Motors Corp.’s European arm to look to their own governments for help. Investors dumped the krona in February after Standard and Poor’s on Feb. 24 cut Latvia’s credit rating to junk and said eastern European economies may face a crisis, stoking concern about Swedish banks’ holdings in the Baltic region. Sweden-based Saab Automobile filed for bankruptcy protection last week after reporting a fourth-quarter loss of 708 million kronor on Feb. 13. Sweden holds 81 percent of the $40.4 billion in total cross-border banking exposure to Estonia, 56 percent of $44.4 billion in total cross-border banking claims in Latvia and 62 percent of the $46.3 billion exposure to Lithuania, Brown Brothers wrote, citing fourth- quarter data from the Basel, Switzerland-based Bank for International Settlements. ‘Negative for Sweden’ “We continue to see rising risks that the Baltic currency pegs will be broken this year,” the analysts at Brown Brothers wrote. “That will be very negative for Sweden.” Riksbank Governor Stefan Ingves said Feb. 26 Swedish banks can overcome losses in the Baltic states. The yield on Sweden’s 5.25 percent government note due March 2011 fell two basis points to 1.04 percent, compared with 1.46 percent on Jan. 30. --

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