In a Referendum, Sweden Resoundingly Reject the Euro

”I’m a little bit worried that we’ll lose a little independence, but it’ll be good for jobs and for our welfare state,” she added.

Before the vote, the ”yes” campaign had been sponsored by the political and business establishment and backed by most newspapers and intellectuals, who had argued that euro membership would boost trade and employment.

But the insurgent ”no” campaigners insisted that Sweden would not benefit as a euro member from being forced to adopt eurozone interest rates, 0.75 percentage points lower than the current Swedish rates, and needed economic independence to maintain its modest growth at a time when the major continental economies are in the doldrums.

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