Sweden gives the world NEGATIVE deposit rates

Sweden has cut deposit rates to -0.25%.

This bit is the important part:

The decision on the repo rate will apply with effect from Wednesday, 8 July. The deposit rate is at the same time cut to -0.25 per cent and the lending rate to 0.75 per cent.

I think that's deserving of extreme language - start with holy fucking shit, and work your way upwards - and if I was a Swede with a bank account I'd be screaming quite loudly about now.

They're now going to be charged interest for saving money. Hopefully Brown's not thinking similar, otherwise a safe will be being purchased and cash removed from the bank.

Hat tip to Mish's Global Economic Trend Analysis.