> The krona hitting rock bottom has reawakened a debate that had been dead for twenty years.
Hedge fund manager Christer Gardell kickstarted the debate before the New Year, when he said Sweden should abandon the krona, which was now “a shitty little currency”. In January, the Moderate Party grandee Gunnar Hökmark, chief of the Frivärld think-tank and long-term euro advocate, argued that Sweden should join.
> Veteran economist Lars Calmfors, who chaired the government inquiry which in 1999 recommended that Sweden stay outside, made a similar call shortly afterwards. Carl Hammer, chief strategist at SEB, who had voted against joining in the 2003 referendum wrote in May that he, too, was now “leaning towards a ‘yes'” on euro membership.
> Now one of Sweden’s three government parties has started to campaign on the issue. The Liberal Party, long in theory in favour of euro membership, on September 4th called for a new government inquiry on joining the currency.
> “We can quite simply no longer afford to stay outside [the euro],” the party’s leader Johan Pehrson wrote in the Aftonbladet newspaper. “Let’s upgrade our EU membership from ‘basic’ to ‘premium’. Let’s bring in the euro now!'”
Or they can do what the Danes did: (de facto) adopt the euro, but just keep calling it the crown. (Denmark hasn’t had a free-floating currency since 1982.)
Awww hellz no. Not NOW at least.
Ask again in 5 years.
Yes please! The more the better.
During a weak Krona would be the worst time to do it.
No, I still need to get the krona into my banknote collection and it gets harder to do so if they replace it
*shakes magic 8-ball*
“Ask again later…”
It was very stupid to do a referendum on implementing euro back in 2003. We were already obligated to get the euro when we decided to join EU. A simple vote in the parliament would have been enough.
Absolutely not
I’m a big UK remainer and very pro EU but I’m always grateful that we never joined the Euro. I think losing your central bank to an ageing society like the eurozone, with a declining tax payer base and significant debts is a disaster waiting to happen, at least for some countries (eg Italy).
Why would anyone abandon this piece of sovereignty is beyond me, especially to proven terrorists (“whatever it takes”, quantitative easing etc…)
Imagine having the same currency as the greeks!
I rather have the krona even if it is as valuable as the lira soon.
Their neighbours, Finland, are already in the Eurozone, ditto Germany which is another major trading partner of Sweden. Joining the Euro would have benefits for Sweden.
Would Sweden joining the Euro put pressure on Denmark to follow?
Maybe for other reasons? Swedens economic is strong and could become stronger. More and more tourits traveled last and this year to sweden. An important reason was that the countries of middle are to hot for vacation. Other reasons are sweden is beautiful, deliscous food, nice people and maybe the weak krona.
So, if sweden accepts euro, more tourits could make a visit and of course more money would flow into the economic of sweden. Is sweden ready for that?
If you have no control of your currency, you have no control of your economy.
Swedes will do what Swedes want to do. While economic and social circumstances are not identical between Sweden and Poland, and Poland is not currently a shining example of monetary policy, this is what The Princeton University analysts say on the particular topic:
“Euro adoption would increase risk to the
Polish economy without providing any
meaningful benefit. While the IMF and NBP
stop short of explicitly advising against euro
adoption, the evidence both from these institutions
and the economic literature more broadly support
this view. Poland should not join the Eurozone for
the foreseeable future.”
EDIT: A while ago I came across an analysis of Europ adoption benefits (sorry, no link). There were only two countries that enjoyed a net benefit – Germany and The Netherlands.
I believe the Swedes should abandon the Swedish krone, and adopt the Danish krone. It’s afterall the superior krone.
Yes! Would love pay for stuff online without the need to re-calculate.
No thanks. If there is a vote I’m against it.
Sweden should already have abandoned the Krona a long time ago. It wasn’t easy for all the other eurozone countries as well. In 1967, Sweden switched to right side traffic in just one day. So I know they’re bold. You can do it again, if you just set your mind to it.
If you look online how the krona exchanges over all years…weak isn’t the word which comes to your mind
20 comments
> The krona hitting rock bottom has reawakened a debate that had been dead for twenty years.
Hedge fund manager Christer Gardell kickstarted the debate before the New Year, when he said Sweden should abandon the krona, which was now “a shitty little currency”. In January, the Moderate Party grandee Gunnar Hökmark, chief of the Frivärld think-tank and long-term euro advocate, argued that Sweden should join.
> Veteran economist Lars Calmfors, who chaired the government inquiry which in 1999 recommended that Sweden stay outside, made a similar call shortly afterwards. Carl Hammer, chief strategist at SEB, who had voted against joining in the 2003 referendum wrote in May that he, too, was now “leaning towards a ‘yes'” on euro membership.
> Now one of Sweden’s three government parties has started to campaign on the issue. The Liberal Party, long in theory in favour of euro membership, on September 4th called for a new government inquiry on joining the currency.
> “We can quite simply no longer afford to stay outside [the euro],” the party’s leader Johan Pehrson wrote in the Aftonbladet newspaper. “Let’s upgrade our EU membership from ‘basic’ to ‘premium’. Let’s bring in the euro now!'”
Or they can do what the Danes did: (de facto) adopt the euro, but just keep calling it the crown. (Denmark hasn’t had a free-floating currency since 1982.)
Awww hellz no. Not NOW at least.
Ask again in 5 years.
Yes please! The more the better.
During a weak Krona would be the worst time to do it.
No, I still need to get the krona into my banknote collection and it gets harder to do so if they replace it
*shakes magic 8-ball*
“Ask again later…”
It was very stupid to do a referendum on implementing euro back in 2003. We were already obligated to get the euro when we decided to join EU. A simple vote in the parliament would have been enough.
Absolutely not
I’m a big UK remainer and very pro EU but I’m always grateful that we never joined the Euro. I think losing your central bank to an ageing society like the eurozone, with a declining tax payer base and significant debts is a disaster waiting to happen, at least for some countries (eg Italy).
Why would anyone abandon this piece of sovereignty is beyond me, especially to proven terrorists (“whatever it takes”, quantitative easing etc…)
Imagine having the same currency as the greeks!
I rather have the krona even if it is as valuable as the lira soon.
Their neighbours, Finland, are already in the Eurozone, ditto Germany which is another major trading partner of Sweden. Joining the Euro would have benefits for Sweden.
Would Sweden joining the Euro put pressure on Denmark to follow?
Maybe for other reasons? Swedens economic is strong and could become stronger. More and more tourits traveled last and this year to sweden. An important reason was that the countries of middle are to hot for vacation. Other reasons are sweden is beautiful, deliscous food, nice people and maybe the weak krona.
So, if sweden accepts euro, more tourits could make a visit and of course more money would flow into the economic of sweden. Is sweden ready for that?
If you have no control of your currency, you have no control of your economy.
Swedes will do what Swedes want to do. While economic and social circumstances are not identical between Sweden and Poland, and Poland is not currently a shining example of monetary policy, this is what The Princeton University analysts say on the particular topic:
“Euro adoption would increase risk to the
Polish economy without providing any
meaningful benefit. While the IMF and NBP
stop short of explicitly advising against euro
adoption, the evidence both from these institutions
and the economic literature more broadly support
this view. Poland should not join the Eurozone for
the foreseeable future.”
source:
https://spia.princeton.edu/sites/default/files/content/Should%20Poland%20Join%20the%20Euro.pdf
EDIT: A while ago I came across an analysis of Europ adoption benefits (sorry, no link). There were only two countries that enjoyed a net benefit – Germany and The Netherlands.
I believe the Swedes should abandon the Swedish krone, and adopt the Danish krone. It’s afterall the superior krone.
Yes! Would love pay for stuff online without the need to re-calculate.
No thanks. If there is a vote I’m against it.
Sweden should already have abandoned the Krona a long time ago. It wasn’t easy for all the other eurozone countries as well. In 1967, Sweden switched to right side traffic in just one day. So I know they’re bold. You can do it again, if you just set your mind to it.
If you look online how the krona exchanges over all years…weak isn’t the word which comes to your mind