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Sweden and EMU

Anonymous

National Institute Economic Review, 2003, vol. 186, 33-34

Abstract: On 14 September, Sweden voted against adopting the euro, with 56.1 per cent voting against and 41.8 per cent voting in favour of the single European currency, with a strong turnout of 81.2 per cent. This was a blow to both the government and business lobbies, who strongly favoured euro entry. While Sweden does not have a formal opt-out clause like the UK and Denmark, they have remained outside the single currency area by postponing membership of ERMII and thereby failing to meet the exchange rate criterion. Since 1999, the Swedish krona has fluctuated from a high of 9.96 krona to the euro to a low of 8.06.

Date: 2003
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