Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Swedish warming to euro -finance minister

Published 05/06/2009, 05:38 AM
Updated 05/06/2009, 05:48 AM
EUR/SEK
-

PARIS, May 6 (Reuters) - Swedish people are warming to the idea of the joining the euro and joining the common currency would be an advantage in terms of cooperating with the euro area, Finance Minister Anders Borg said on Wednesday.

A poll last month found that the financial crisis had pushed Swedish voters narrowly in favour of joining the euro zone.

The public television channel SVT, which commissioned the survey, said it was the first to show the "Yes" camp in the lead since a referendum in 2003 in which a solid majority rejected adoption of the EU common currency.

"Obviously it would be an advantage for Sweden to join the euro and that would simplify a lot of the cooperation (with the euro area) but we have a situation where the public opinion is quite clear and we will not be able to join the euro without a referendum," he said at a news conference.

"As we perceive the situation it is quite clear that Europe is perceived as a stabilising force in this financial crisis so my impression is that Swedish people are getting more positive towards euro membership but this is a complicated issue that would take some time to deal with."

The Swedish crown weakened to record lows against the euro as the global financial crisis sent investors seeking relative safety in larger currencies such as the dollar, though it has recovered some of the ground in recent weeks.

Sweden's centre-right government has ruled out holding another referendum during its current term of office, which runs to September 2010, and said a new vote is unlikely even in its next four-year term, if it wins the next election. (Reporting by Anna Willard; Editing by Andy Bruce)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.