Sweden and the euro
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Sweden does not use the euro as its currency (it uses the Swedish krona) and is not in the process of adopting it.
As part of its accession to the European Union, Sweden is bound to adopt the euro as its currency. However, despite government support for Swedish entry, the country has yet to formulate a policy to join. In addition, a referendum held in 2003 saw 56.1% vote against membership. As a consequence, Sweden decided in 2003 not to adopt the euro for the time being.
Most major political parties in Sweden, including the governing Alliance for Sweden (except the Centre Party), which won the 2006 election and the former governing Social Democratic party, are in principle in favour of introducing the euro. The Alliance for Sweden has stated they will not rerun the referendum, or even set a date for a rerun in their first term (until 2010).
The result of this is that, unlike those new member nations currently outside the Eurozone, Sweden has no set timetable, and as a consequence will retain the krona for some undefined time. Until such time as it is confirmed that Sweden will join the Euro, no Swedish euro coinage will be designed.
On 24 October 2006, EU monetary affairs commissioner Joaquin Almunia stated that the European Union could theoretically take Sweden to court for not joining the euro despite meeting all the economic criteria, but that such an action would be neither necessary nor desirable currently.
The Sydsvenska Dagbladet reported on 2007-11-26, a few days after Prime Minister of Denmark had announced plans to hold another referendum on abolishing Denmark's opt-outs (including the opt-out from the euro) that the question of another euro referendum would be one of the central issues of the 2010 election in Sweden.[1]
On the other hand, all polls about the possible introduction of euro in Sweden have since the referendum shown a clear overweight for the "no" side, around 40 % yes, 50 % no and 10 % uncertain.[2] A typical poll from late November 2007 saw 52% against and 39% in favour,[3] and one from December saw 50.8% against and 35% in favour.[4]
[edit] Coins
There are no designs for Swedish euro coins. It was reported in the media that when Sweden changed the design of the 1-krona coin in 2001 it was in preparation for the euro. A newer portrait of the king was introduced. The 10-krona coin already had a similar portrait. This in fact is from a progress report by the Riksbank on possible Swedish entry into the euro, which states that the lead in time for coin changeover could be reduced through using the portrait of King Carl XVI Gustaf introduced on the 1 and 10 krona coins in 2001 as the national side on Swedish 1 and 2 euro coins[5].
Only the national banks can manufacture valid coins by the law of Sweden. However some private collection mint companies have produced Swedish euro coins, claiming that they are copies of test coins made by the Riksbank. However this is not true and they have nothing to do with Swedish euro coins, which do not exist.
[edit] References
- ^ Courrier international, eurotopics : the european press in 3 languages
- ^ http://sv.wikipedia.org/wiki/Folkomr%C3%B6stningen_om_inf%C3%B6rande_av_euron_%28Sverige%29
- ^ Majority of Swedes remain opposed to euro - People's Daily Online
- ^ Narrow majority of Swedes opposed to euro: poll — EUbusiness.com - business, legal and financial news and information from the European Union
- ^ Nr 7 eng
[edit] External links
- Central bank (English)
- Central bank (Swedish)
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