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Swedes Warm Up to Euro as Krona Approaches All-Time Lows
(www.bloomberg.com)
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this post was submitted on 02 Jul 2023
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Wasn't the running gag always that Sweden intentionally destabilizes the Krona in order to not have to fulfill their obligation to adopt the euro?
I don't think they need to do it, the ECB or the Commission or EUCO never showed any sign of trying to force their legal obligation to join, so doing nothing is enough not to join. But in any case the weakness is becoming perennial and that's problematic for Sweden.
I'm wondering more if it's even stable enough now for them to fulfill the requirements to actually join.
would never be such a fast process anyway, as they had a referendum before I assume they wouldn't do it without a new one. So that would be the first step. But this "mood" might fade away quickly, I still remember when Icelandics wanted to join the EU and the Eurozone and then forgot about it :P
Not necessarily destabilised, but Sweden has deliberately opted not to join the European Exchange Rate Mechanism which purpose is to stabilise currency exchange rates.
Sweden is by law bound to adopt the Euro, but by choosing not to join the ERM II, Sweden by extension can't join the Euro because they technically don't fulfil the requirements.
This is of course a simple loophole that could be closed by the EU, but there hasn't really been much political will to do anything about it.