1990
Left bloc · SThe property bubble bursts and Sweden's worst financial crisis since the 1930s begins.
1990 infographic: The property bubble bursts and Sweden's worst financial c…
AI-generated infographic using the page's 1990 anchors.
Highlights
- Nyckeln collapses: On 24 September, finance company Nyckeln suspended payments with 3 billion kronor in debt, triggering the chain reaction recognised as the start of the 1990–1994 Swedish financial crisis.
- Tax reform doubles borrowing costs: The landmark income-tax reform cut interest deductibility from 50% to 30%, effectively doubling real borrowing costs and accelerating the property crash. Annual inflation hit 10.8%.
- EU membership goal adopted: In December, parliament backed the Carlsson II government's decision to seek European Community membership, breaking with Sweden's long-standing neutrality doctrine.
Events in this year
1990 The Left Party Drops "Communists" From Its Name (1990) In 1990 the party dropped "the Communists" from its name and cut communism from its programme, continuing as the Left Party. Reform 1990-09-24 Nyckeln collapses 1990 Nyckeln collapses: On 24 September, finance company Nyckeln suspended payments with 3 billion kronor in debt, triggering the chain reaction recognised as the start of the 1990–1994 Swedish financial crisis. Crisis