As the eurozone's flaws and weaknesses continue to manifest themselves in the midst of the Greek crisis, the appetite for the euro in
Europe's far north is dminishing. In Denmark, the government has been
forced to kick a referendum on the country joining the euro into the long-grass, following
objections from Danish unions and others over the state of the euro - and in particular the Commission's instant new powers to meddle in negotiations on pay between national social partners (a clear no-go zone for Scandi unions).
And in
Sweden, citizens have done a bit of a U-turn: a poll for
Swedish Television shows that 50% of Swedes are now against the country joining the eurozone, with 39% in favour and 11% undecided. When the same question was asked in April 2009, 47% were in favour of joining the euro, while 45% were against. Changing sentiments in other words. And who can blame them? The Swedish krona is
on the move and more and more commentators are
acknowledging that the country has benefited from staying outside the eurozone (benefits which include an
annual windfall profit of SEK 30bn from higher exports).
Not everyone is getting with the programme though. The Swedish Liberal People's Party - which forms part of the governing coalition - still says on its
website: "
Sweden joining the monetary union would eliminate uncertainties and currency risks - and would contribute to more investments, higher income from exports and economic growth."
Right...
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