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Home / World

Sweden to vote on euro

28 Aug, 2003 11:36 AMQuick Read

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A referendum on September 14 will decide whether Sweden adopts the euro, the common currency of the 15-nation European Union.

Opponents say Sweden, like Britain and Denmark, is better off staying out.

Joining the euro, they say, is another step towards a European superstate that will tie Sweden's hands in setting
tax rates and maintaining its generous welfare system.

The Government says that by snubbing the euro, the nation risks becoming a marginal force in the new, borderless European giant.

Right now the "ja" vote trails the "nej"-sayers by 10 to 15 percentage points in the polls.

The Government has to play down a recent economic trend - showing better growth and unemployment figures in Sweden than the EU average - while pointing out that "the Swedish model" isn't what it used to be. Until the 1980s, Sweden was among the top four in per capita purchasing power of the 15 countries that now comprise the EU. It then fell to No 11.

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