Sweden says Nej to the Euro
So what can be learned from the No vote delivered to the pro-euro government in Sweden this weekend? Perhaps that to abandon a currency that you know for one that you don't the benefit to the individual elector needs to be spelt out. The economic benefits are arguably there in potentially increased inward investment, exchange rate stability, lower interest rates and in the creation of a europe wide business zone which is easy and transparent for corporation and consumer alike.
There is however a perception that the Euro is a play thing for some member states witnessed by disregard for the Growth and Stability Pact while being a noose for others too small to unilaterally cast aside the rules. There is a heavy responsibility on the existing members to demonstrate that the Euro is beneficial and worthy of a yes vote - once they do that then there ought to be no need for campaigns to sell the proposal to the Swedes or Brits, the answer would be obvious to all.
Posted by Paul at September 16, 2003 04:11 AM |