Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-07-11-Speech-3-284"
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"en.20070711.27.3-284"2
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"Not quite four years have gone by since Sweden held a referendum on the euro and, by a very large majority, rejected introducing the euro as a currency. There were, and are, many arguments against becoming a part of the Eurozone. For one thing, it is a very unstable political project; for another, it is extremely problematic for a country not to be able to control its own interest rates in order to respond to trade cycles. These fears have proved to be justified, and we now see how all this is affecting countries that have exchanged their currencies for the euro.
Has Sweden lost out by keeping the krona? Recent studies show that trade has been affected, but to a negligible degree. What Sweden has gained by not introducing the euro is much more valuable. We are quite differently placed to control our development because interest rates can be adapted to prevailing conditions in Sweden without the Bank of Sweden needing to take account of the trade outlook in other countries. I therefore think that, contrary to what Commissioner Almunia has said in this House, the Swedish ‘no’ vote must be respected and that Sweden too should be given a formal exemption from having to join the Eurozone, just as Denmark and the United Kingdom have. Anything else would be extremely undemocratic."@en1
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