Letters

摘要

As Sweden has introduced a fee on banks' liabilities we would like to address a few of your concerns about the imf's work on a bank tax ("Stick 'em up", April 24th). In Sweden we have combined the levy with a resolution fund used to reduce government debt. This gives the government economic and political room for manoeuvre if it becomes necessary to intervene. Importantly, we have introduced a tough resolution framework to combat moral hazard, a lesson from our own financial crisis in the 1990s.