[lbo-talk] Sweden rejects euro

[Wojtek Sokolowski]

Doug:
> Subject: [lbo-talk] Sweden rejects euro
> 
> [is the neoliberal era over?]
> 
> Sweden rejects euro membership
> 
> STOCKHOLM (AFP) - Swedes voted not to adopt the euro in a referendum,
> dealing a major blow to Prime Minister Goeran Persson, the leading
> campaigner for Swedish membership of the European single currency.

I had mixed feeling about that.  On the one hand, the no vote as a means
of stopping the erosion of Swedish generous welfare state makes sense,
but I am not sure whether it is the best or effective strategy - or that
Sweden's welfare state is being seriously eroded, it still accounts for
34% or so of the GDP.  On the other hand, the euro looks like a
challenger to the dollar and the US hegemony in the world trade - so a
strong euro is a good thing.  Sweden joining the eurozone would
certainly strengthen the euro.  

Wojtek