STOCKHOLM, Feb 9 (Reuters) - U.S. President Donald Trump’s plans to review post-financial crisis banking rules could lead to a new financial crash if it leaves markets unfettered, Sweden’s finance minister said.
Removing restraints on financial markets carries great risks, Finance Minister Magdalena Andersson told the newspaper Aftonbladet in an interview published on Thursday.
“I am very concerned about the signals from the Trump administration, that they want to deregulate the financial market in the U.S., but also that they don’t want to play an active part as before in the international cooperation on regulating the financial markets,” Andersson told Aftonbladet.
Trump last week ordered reviews of banking rules that were put in place after the 2008 financial crisis, and Andersson’s warnings echoed worries expressed by European Central Bank President Mario Draghi on Monday .
“It jeopardizes financial stability and runs the risk of leaving you in the same situation we had in 2008-2009, with the big financial crash that had repercussions not just in the U.S. but in the whole world and also in Sweden,” Andersson said. (Reporting by Daniel Dickson, editing by Larry King)