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The Social Democrats rejects the new draft of EU finance pact

Tuesday, 24 January 2012
The opposition Social Democrats party has rejected the fourth draft of the EU fiscal pact and stops thus Sweden's ability join the euro countries and Finland in signing the pact. The news came from the Social Democratic parliamentary group a while ago.
Tommy Waidelich, Social Democrat’s economic policy spokesman told radio Sweden that “We do not accept the latest version of the fiscal pact. We still do not seem to belief that the latest draft is sufficiently loud and clear enough.”


Tommy Waidelich, still seems to admit though that the proposal now is good in the sense that it states that non-euro countries are not bound by the stricter budgetary rules which will now be introduced.
In contrast, the Social Democrats are unhappy with Sweden's ability to influence the proposals the euro countries will discuss in the financial pact. According to the proposal as of today, Sweden’s only chance of information will come only before and after the euro countries' heads of government have met.
In addition, the Social Democrats are worried of the impact on Swedish wage formation despite the fact that it is in agreement that the social partners must be respected.
For Prime Minister Fredrik Reinfeldt, today's ruling means that Sweden can not adhere to fiscal pact.
But there may be more negotiations because the new draft with the new projections may come before the EU summit in Brussels on Monday.
 By Team

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