BRUSSELS (AFP) - "Our taxpayers are not willing to pay for Greek problems", non-euro Sweden's Finance Minister said.

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The finance minister for non-euro Sweden on Sunday said he would "not rule out" helping to underwrite a European Union plan for a bailout fund aimed at troubled euro economies.

"I would not rule out anything," Anders Borg told reporters as he arrived for crunch talks in Brussels. "I would be willing to consider any option," he said when asked if Sweden could help to guarantee borrowings in the EU's name.

Britain indicated earlier Sunday it would not participate in the fund.

"We need to make progress today, we cannot afford dispointment with the markets," said Borg, referring to deadline of Sunday evening for agreeing a deal, as fixed at a summit of eurozone leaders on Friday.

Borg underlined that although the debt crisis that brought down stock markets worldwide last week is a "eurogroup problem," and that it was "clear that our taxpayers are not willing to pay for Greek problems... we also need to solve the problem."

Last Friday Anders Borg said that “we have a difficult situation on the international financial markets” but that Sweden is fully prepared to handle any emergency resulting from the eurozone chrisis.

"The Financial Supervisory Authority and the Riksbank have stated that we have limited exposure to the relevant countries. Swedish banks are well capitalized and have an emergency preparedness that is resilient," he said during a press meeting.

"The Riksbank has concluded that the market is functioning today, but has everything in place to ensure liquidity in the Swedish financial system, as it did a year ago" .

Last Updated (Monday, 10 May 2010 05:21)