“Sweden will never in my life time adopt the Euro,” Tommy Waidelich, Social democrat economic policy maker


Wednesday, 24 August 2011
Social Democratic economic policy spokesman, Tommy Waidelich is writing off a Swedish membership of the European single currency, the Euro. He did this with a fashion that could be described as ‘with a vengeance.’

 “The Euro?  Not in my lifetime,” he said to the Swedish European union website, Otherwise known as Europe portal, it is a Swedish web magazine of the European Union and Europe. The magazine created on the 12th of April 2000, covers the EU news and related from Stockholm and Brussels. 

The Euro area is likely to cope with the financial crisis sweeping the region. But Sweden will not join the single currency. This is the position of Tommy Waidelich, Social Democrat economic policy spokesperson.

He confidently said that as much as “I can get an overview, for the foreseeable future, it is not an issue, "he told
In relation to foreseeable future, Mr Waidelich means that: "For me it's my life time, my generation, as long as I am the decision-makers.”


In relation to the acute crisis in the region now, he said that:
"Portugal and Greece would get it even worse outside the euro, for example, on borrowing. I think that the euro countries should discuss the form of exit mechanism so that countries during a transitional period can get support and help."

Tommy Waidelich makes the assessment that the Eurozone can handle the crises in Greece, Portugal and Ireland. But if Spain and Italy are shifting towards the same direction, “it may begin to shake."
He calls for Eurobonds. "It's the tool that can solve the current situation is best to bring down interest rates on loans for debtor countries, and also what to reassure the markets the most, " he adds.

In 2003, the Social Democrats acknowledged the possibility of adopting the Euro single currency. They were the “yes” side in the debate of the subject of Swedish euro membership. In the referendum that year, the no-side won a clear majority.

Since then the perception about the acceptance of the euro had been mixed but support for it has been falling. At one time when the Swedish Krona fell to a very low level there was an increased appetite for the single currency.
More about the interview here (Note in Swedish only)
By Team

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