• Sweden edition
Bildt: euro stability lessened crisis impact

Bildt: euro stability lessened crisis impact

Published: 13 Jan 2012 07:43 GMT+01:00
Updated: 13 Jan 2012 07:43 GMT+01:00

"If we compare the alternative -- and I was prime minister in the early 90s so I can speak with a certain authority -- we had a situation in Europe in the early 90s when we had a country devaluing every two weeks or something like that," Carl Bildt told reporters in Lithuania.

"It was complete monetary turmoil," Bildt said on the sidelines of a closed-door policy conference in the south-eastern town of Trakai.

"Now we have gone through a very severe economic crisis but we have had monetary stability," he added, in contrast with critics who pin the blame for Europe's economic woes on the eurozone crisis.

Sweden, which joined the EU in 1995, is not a euro-zone member, the Swedes having rejected the euro in a 2003 referendum.

Having learned tough lessons from their own economic slump of the early 1990s, Sweden is now held up as an example of fiscal rectitude, boasting a place among Europe's strongest public finances.

But Stockholm steers clear of anti-euro rhetoric and Bildt said that the euro had brought "tremendous benefits" both to members of the 17-nation currency bloc and to the entire 27-member EU.

"It's been a benefit for trade integration," he said.

"You can argue that during the particular crisis it has been more comfortable short term on the outside. But there's no question that the euro is to the benefit of the Swedish economy as well," he added.

AFP/The Local (news@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

09:24 January 13, 2012 by HYBRED
I can't help but notice that Bildt puts the Euro problem(s) in the past tense. The Eurozone and EU ecomomic problems are far from over. And the forcast for this year is far from rosey. In fact a mild recession at the least is in store by most accounts.
10:15 January 13, 2012 by the fonz
This opinion misses some important issues - the problems of Greece and the other PIIGS is very much linked to their participation in the Euro. Is it obvious that the one cap system has failed. Germany is booming whilst everyone else is virtually bankrupt. So it probably is correct to say the Euro has remained relatively stable, but at what cost?
11:37 January 13, 2012 by Nemesis
I wonder has anyone every asked Bilt or been allowed to ask Bilt about Swedish banks reckless lending policies to Baltic states, which came close to crippling them?
11:54 January 13, 2012 by Brianito
I agree Hybred ...... interesting to see what will happen tomorrow when Britain releases the unemployment figures.
20:20 January 13, 2012 by viennacalling
here we go again another Spin Doctor on the Euro

its not the Euro its the Fact that when they decided on a single currency for many countries then they should have had a EUROBOND where all the countries borrow at the same Rate

nothing will happen until Germany really feels the Pinch and its coming !
23:09 January 14, 2012 by Rebel
Nerd Boy really is doing his best to make the business interests that support his party happy. Problem is, anyone who studies the debt problem knows he is full of you know what.
Today's headlines
Sweden resumes aid to 'anti-gay Uganda'
Hillevi Engström and protesters against Uganda's anti-gay laws. Photos: Maja Suslin/Ben Curtis/TT

Sweden resumes aid to 'anti-gay Uganda'

Sweden has resumed sending development aid funds to Uganda, after suspending payouts back in March due to "anti-gay legislation". READ  

The Local List
Top ten coffee spots in central Stockholm
Fanny feels at home at the Blå Lotus. Photo: Isabela Vrba

Top ten coffee spots in central Stockholm

If you're wondering where to grab your next cappucino, then wonder no more. The Local talked to the locals in Stockholm and found out the best spots in town for the ultimate fika experience. READ  

Swedish neo-Nazis join fight in Ukraine
The Azov task force. Photo: Sergei Chuzavkov/TT

Swedish neo-Nazis join fight in Ukraine

Four Swedes are fighting with the Ukrainian task force Azov - a squad which flies a flag with Nazi symbols and, according to one Swedish soldier, fights for "a white Ukraine". READ  

Swedish elk get one-way ticket to Denmark
The elk in this picture are not the ones that will be sent to Denmark. Photo: The Uppsala Koala

Swedish elk get one-way ticket to Denmark

Up to a dozen elk will be transported from Sweden to Denmark in an effort to help maintain local marshlands. READ  

Sweden worst in EU at getting foreigners jobs
Photo: Henrik Trygg/Imagebank Sweden

Sweden worst in EU at getting foreigners jobs

UPDATED: Swedish citizens are the most likely to be employed in the EU, but Sweden is among the very worst when it comes to getting non-EU citizens into work. READ  

Man arrested for burning partner's face
Photo: Linn Malmén/TT

Man arrested for burning partner's face

Police suspect that a man in western Sweden is responsible for the extreme burns on his partner's face. The man has been arrested on suspicion of aggravated assault - and potentially attempted murder. READ  

In Pictures: Conchita Wurst in Stockholm
Photo: Maja Suslin/TT

In Pictures: Conchita Wurst in Stockholm

Eurovision winner and LGBTQ idol Conchita Wurst is in Stockholm this week for Stockholm Pride - and joined Swedes at Skansen for a colourful summer sing-along. READ  

Stockholm holds colour contest for new metro
Photo: Joel Bagon

Stockholm holds colour contest for new metro

Stockholm's new metro line is not set for preliminary construction until 2016, and will not be completed until 2022 - but Swedes already have the chance to vote for the new line's colour. READ  

Sweden's heat wave officially over
Photo: Johan Nilsson/TT

Sweden's heat wave officially over

The heat wave that swept over Sweden recently has finally passed, meteorologists reported on Wednesday, promising cooler and more autumnal temperatures around the corner. READ  

Ukraine rebels release kidnapped Swede
Rebel tanks on the road to Horlivka in June. Photo: TT

Ukraine rebels release kidnapped Swede

The Swede who was kidnapped by pro-Russian rebels has been released after nearly three weeks of being held hostage - although no one knows where he is now. READ  

Stockholm Pride kicks off
The top six ways the US and Sweden differ
Swedish youth suicides hit 25-year high
Politician reported for selling 'negro ball'
Police turn blind eye to Swedish 'slave trade'
Blog updates

27 July

Approaching Stockholm (Around Sweden in a kayak) »

"I woke up in the comfort of my own little cabin on Eva and Rolf’s boat, it was 7:30am and I was feeling a bit groggy after a couple of beers with all the lovely locals the night before. The previous day had really taken its toll on my body and I was very stiff and..." READ »


24 July

Sharing our Pride: Celebrating Love & the LGBT Community! (Stockholm in my American Heart) »

"It’s mid- July in Stockholm, and with much of the city on vacation, things can seem a little quiet – the streets, the bus, and the grocery store. One thing that has not paused for a summer break, though, is preparation for Stockholm’s Pride Festival, which will take place from July 28 to August 2...." READ »

Stockholm Pride: Allsång på Skansen with Conchita Wurst
Sponsored Article
Introducing... ID cards and permits in Stockholm
People-watching, June 26th - 28th. Get inside Stockholm's hottest nightclubs
Top ten Swedish taboos
Seven-year-old Swede cycles to Berlin
'Gaza conflict needs help, not empty rhetoric'
Swedes voted 'most beautiful' in the Nordics
Business & Money
Sweden demands EU clarity on Bitcoin tax
Swedish organic sales enjoy 'amazing' growth
Photo: Johan Nilsson/TT
What's On in Sweden
People-watching July 23
Swedish cops elect not to shoot 'angry elks'
Business & Money
New alcohol retail rules threaten micro-breweries
People-watching Båstad
Business & Money
Sweden falls to third in global innovation index
Swedish ornithologists keep webcam watch
Photo: Andreas Nordström/Image Bank Sweden
Top ten Swedish beach hot spots
Swedish Wiki vet sets new content record
Photo: Fastighetsbyrån
In Pictures: The Local's Property of the Week
Sponsored Article
Introducing... Your finances in Stockholm
Sponsored Article
Introducing... Housing in Stockholm
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
If you want to drink, that’s your business.
If you want to stop, we can help.

Learn more about English-language Alcoholics Anonymous in Sweden. No dues. No fees. Confidentiality assured.
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at: