[lbo-talk] RE: Sweden rejects euro

joanna bujes jbujes at covad.net
Mon Sep 15 14:30:31 PDT 2003


Woj writes:

"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."

The euro may, on some level, challenge the dollar (US hegemony and our free-wheeling money printing) but, more fundamentally, it does not challenge the underlying economic model: profits over people; TINA; neo-imperialist "globalization"; and the ascendance of finance capital. I'm glad the euro lost in Sweden.

Joanna



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