It ripped the band-aid off quickly. More pain short term but their economies emerged quickly from the downturn. Too bad our gov't is so captured by the financial interests that such a solution is deemed unviable.
It ripped the band-aid off quickly. More pain short term but their economies emerged quickly from the downturn. Too bad our gov't is so captured by the financial interests that such a solution is deemed unviable.
See, eg. http://www.nytimes.com/2008/09/23/business/worldbusiness/23k... , note the term "series of bank failures."
As for QE: Note there was a devaluation imposed by the exchange rate, and the peg evaporated. So you are correct that Riksbank did not print, but the QE was achieved by the currency markets.
QE is a word with a specific meaning, it's not just a synonym for "stimulus". It refers to the buying of financial assets by the central to increase their value, and/or to increase the money supply. Ending a currency peg has nothing to do with that.
Note that the bailout operations that did take place did so after the end of the peg.