Keeping it in the family

Article Abstract:

Sweden's Wallenberg family indirectly controls a third of Sweden's GNP through a banking and industrial empire of 12 major corporations, including Electrolux, large shareholdings in other major corporations, including Scandinavian Airlines Systems, and control over Skandinaviska Enskilda Banken. The Wallenberg family maintains control through an old-boy network of hand-chosen executives and by possessing the largest voting block of stock in each affiliated company. The head of the family, Peter Wallenberg, is at the forefront of industrialists urging Sweden's government to harmonize the country's laws and regulations with those of the European Community as an initial step towards membership. Such liberalization would necessitate removing shareholder voting rules and restrictions on foreign ownership that would leave the Wallenberg empire vulnerable to foreign interests. The Wallenberg's will most likely preserve their empire by seeking out foreign partners and by streamlining.

Banking industry, Management, Airlines, International relations, Home appliances industry, Appliance industry, Scandinavian Airlines System, Swedish foreign relations, Electrolux AB, Skandinaviska Enskilda Banken, Wallenberg, Peter

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Flight from the north

Article Abstract:

Swedish multinationals are increasing their overseas investments. In 1988, Swedish foreign investments totaled Swedish krona (SKr) 43 billion and outstripped domestic investment for the first time. In 1989, Swedish foreign investments totaled SKr 46.5 billion, and foreign investment almost doubled in the first six months of 1990 due to a relaxation of foreign exchange controls. The Swedish multinationals are raiding European Community (EC) corporations in order to get a foothold in the single European market. In the first six months of 1990, Swedish firms made 125 acquisitions worth $12 billion in the EC. Swedish enterprises are turning to foreign investment due to the government's refusal to seek EC membership, and more than half of the workforces now employed by Swedish multinationals are abroad. Swedish businesses suffer from a small market, geographical remoteness, a deteriorating economic climate, high wages, and poor productivity.

Analysis, Foreign investments, Investments, Corporations, Corporations, Swedish

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Gateway to Europe

Article Abstract:

The strong economy of the Netherlands should become even stronger following the realization of a single European market in 1992 unless the country's pollution control laws and public-sector debt blunt the benefits. The single market will cause the Dutch economy to expand by an estimated 3.3%, reduce the cost of the country's imports, and increase demand in European Community countries for its exports. However, growth of the country's GNP will be hampered by the second largest public-sector debt in Europe. Pollution controls instituted in the country may hinder its international competitiveness.

Netherlands, Economic policy

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