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Sweden set up to provide financial aid to troubled EU countries

Friday, 09 December 2011
Sweden is setting up money through the IMF to help troubled euro area countries.
However, Sweden will take no position on whether to join the extended control of state budgets.


Members of the Committee majority gave the green light today to Swedish Prime Minister Fredrik Reinfeldt on behalf of Sweden to accept the change in the EU's founding treaty, so that the 17 euro countries could have stronger rules for budgetary control.

The question whether Sweden should join the euro countries expanded economic cooperation is suspended. That, Sweden would take a position on it latter. The Social Democrats do not want Sweden to participate in the enlarged euro area.

The Committee also agreed that Sweden will contribute to the International Monetary Fund, to help troubled Eurozone countries. This was something that made the Left party very critical. The Left does not want Sweden to contribute money to the IMF.
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