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More Swedes favour euro over krona: poll

TT/The Local · 15 Dec 2009, 10:42

Published: 15 Dec 2009 10:42 GMT+01:00

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According to a poll from Statistics Sweden (SCB), 44 percent of Swedes would vote yes to the euro, while 42 percent indicated they would vote no.

The results mark the first time since Sweden’s 2003 referendum on the euro that a majority of Swedes favour ditching the krona.

“It’s a little surprising,” said SEB bank currency analyst Carl Hammar, to the TT news agency.

Historically, Swedish support for the euro increases when the krona depreciates. But during much of 2009, the Swedish currency has strengthened relative to other currencies, albeit from rather low levels.

And the Swedish economic crisis would have likely been worse if Sweden had been part of the eurozone.

“We’ve been helped enormously by the krona being relatively weak,” said Hammer.

Around 14 percent of respondents indicated they were undecided about how they would vote in a referendum on the euro, however, and the 2 percent advantage for the pro-euro camp isn’t statistically significant.

Major differences also remain between the level of support for the euro among men and women.

Among men, 50.3 percent favour the euro, while 38.4 percent want to keep the Swedish krona.

The results are reversed for women, however, with 37.2 percent indicating they would vote yes to the euro, while 45.6 percent said they would vote against switching to the European currency.

Since SCB’s last poll in May, there has been a noticeable increase in support for the euro among sympathizers of both the Social Democratic and Moderate parties.

Story continues below…

In addition, fewer Social Democratic supporters indicated they are against adopting the euro.

Compared with results from a poll conducted in November 2008, there has been an increase in the number of people who would vote yes to the euro among sympathizers of all political parties represented in the Riksdag except the Centre Party and the Christian Democrats.

TT/The Local (news@thelocal.se)

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Your comments about this article

11:25 December 15, 2009 by Bensonradar
Suggest you keep the krona. If you switch to the euro then prices will rise in the shops. You will get less for your money.
11:49 December 15, 2009 by Nemesis
The sooner the switch to the euro happens the better.

Importing and exporting to the EU from Sweden at present, is a headache with the constantly fluctuating currency differentiation.

I don'´t think I have imported or exported in the last year at the same price twice in the last two years.

Also in Ireland it was illegal to raise prices during the changeover which in the whole worked with only a few halfwits changing prices. Price changes can be avoided if the political will is there to do that.

Being in the Euro means more price stability and better access to European markets.

The days of nationalism need to end. We need pragmatic thinking in running our economies.
11:49 December 15, 2009 by Keith #5083
If you want Euro,go into the bank and get them. The 'Euro legislation' in the EEC is not just about changing your change. It has lot's of other things in it as well, most of which I guess would not be acceptable. Don't get me wrong, I think the EEC is a good thing - but not the common currency and it's attached legislation.

One of the foundation principles of the EEC was the preservation of cultures (hence the Social Fund). A common currency is one of the major methodologies for the destruction of a culture.

Mutual co-operation based on mutual respect is great. Assimilation without identity is not.
11:56 December 15, 2009 by Nemesis
@ Keith #5083

Your statements are a complete fabrication.

The European Union has went out of its way to preserve European culure.

They have funded Gaelic, Ulster Scots, Welsh, Cornwalsh, Bretton, Sami and a whole host of other minority groups to not only keep them alive, but to expand them as has happened wiht the old celtic languages.

The European Union has not went for assimilation, it has went for keeping all cultural aspects of Europe alive.

The Euro is a tool for allowing people to do business acrossborders with less beaurocracy and lower costs. The European Union is acively trying to reduce internal EU cross border business costs.
12:12 December 15, 2009 by krrodman
Let's talk about Greece. At this very moment Greece may need to default on its Sovereign Debt. Greeece is very limited in its options precisely because it is tied to the Euro. Let's say that Greece did not use the Euro but still controlled its own currency. What could/would it do? Simply, it would devalue its currency to manage its economic crisis.

Every country on this planet at one time or another has manipulated its currency to manage its irresponsible social and economic policies.

Sweden has benefited economically, and in turn socially, in this crisis precisely because its currency has been weak relative to the euro. How many social programs would have been affected if the Swedish economy remained weak because it traded in Euros and not in Kroner?

While the Eurozone is an economic union, once a country no longer controls its currency, it no longer controls its social policies.
12:23 December 15, 2009 by Nemesis
@ krrodman

The Euro imposes strong fiscal restraints.

Under the Euro politicians find it harder to borrow from future generations and spend money they do not have. Politicians under the Euro have to find ways to generate wealth, without borrowing from future generatons.

Under the Euro, the politicians are forced away from populist policy's no mtter how much theywant to impose them.

They have to act wthin financial constraints that as the economy builds, itis actually based on real growth and not borrowed or false growth.

The Euro makes countries spend within there means and stay within there means.

Greece is a basket case, as is Italy and Ireland. The strong constraints are forcing politicians to think and act in fiscally responsible ways. Unfortunately they did not do so during boom years otherwise they would now not have half the problems they have.

The fiscal restraints will force reality into fiscal decisions in those countries, instead of the pevious nonsense that passed for political policy. That can only be good for Europe in the long term.
12:58 December 15, 2009 by xenyasai
Sweden have been fighting this battle for too long. They are part of the EU and should switch. So should UK. And while the UK is switching to Euro, they might consider the metric system too. ;)
13:53 December 15, 2009 by Keith #5083
@14 Nemesis

"it has went for keeping all cultural aspects of Europe alive", you said. Which is also what I said was one of the fundamental principles of the EEC.Maybe you read what I wrote with the same due diligence that you read the Euro legislation! It is not, however, one of the principles of the Euro legislation!!.

The Euro fiscal restraints, much trumpeted by the Franco-German coalition that pushed for the Euro, are regularly abused by the very countries that pushed so strong for this legislation.How many times has France been reprimanded or fined for not keeping the agreement? I ask you as you are clearly representing yourself as an expert on the subject.

I am sorry that you find it difficult in this computer age to make calculations about valuta or are severely inconvenienced by fluctuations in currencies which have occurred since...hmmm. how many centuries?

Since you feel my views are a 'fabrication' I must bow to your superior knowledge of that subject i.e. fabricating, misrepresenting.

I repeat, I AM in favour of the EEC. I am not in favour of the Euro legislation in it's present form - but am not against, in principle, a common currency itself - just these rules that came with it!!!

It is no use imposing 'strong fiscal restraints' if they are ignored!!!
14:16 December 15, 2009 by Osokin
In Finland prices risen 20% almost overnight after the shift to euro 10 years ago. In Germany also, then VAT went up to keep up with the rest of EU. I do not know of any single advantage (for the non retarded) to accept this move. Canada and the US have their own currency, the intra-commerce is tight and nobody whines.
14:21 December 15, 2009 by Nemesis
@ Keith #5083

You said,

"Mutual co-operation based on mutual respect is great. Assimilation without identity is not."

I have been present at meetings for funding from the European Union for Scots Gaelic, Ulster Scots and Irish Gaelic. I have been there when Eurocrats have pushed to keep not only the languages but the regional dialects alive, which annoyed Irish and UK politicians no end. That mean't no control from the usual political idiots in Sein Fein, GAA, catholic church, UDA, DUP or any other bunch of control freaks. It opened it up the languages to non political people again and depoliticised the indigenous languages.

I have also seen the effect of the peace 2 money in Ulster.

Europe is not about Assimilation. Europe is about growing together with mutual respect for each other.

I know the Euro legislation is not perfect, but it is still very good and getting tightened up constantly.

France's default is nothing compared to what has happened in Ireland, Greece and Italy. However the default is a lot less and more controlled due to Euro constraints. Also fiscal control means that they will be back within Euro limits a lot faster than would happen otherwise.

As for business I operate at a very low margin so as to compete against cheap imports. Quite often a currency fluctuation can wipe out most of my profit.

Danmark is locked to the Euro and for all purposes may as well be in it. It is time that Sverige and Danmark dropped the nonsense and joined the Euro.

As for the UK, until the media in the UK is owned by people from the UK, there will never be an open and informed debate in the UK about the Euro. The only voice that has been heard so far is Rupert Murdoch's, no one else's.
14:39 December 15, 2009 by calebian22

All I can say is Kumbaya. You paint a, let's-all-hold-hands-and-get-along-with-each-other Europe. This must be a different Europe from the one I live in.
14:44 December 15, 2009 by Nemesis
@ calebian22

Europe is what you make it.

If you don't want to get on in Europe, you won't.

I do want to get on in Europe and compete as an equal with people from Denmark, Poland, Germany, Austria and other European countries.

If you look at something in a negative light from before you learn anything about it, you will always see it that way.

What country are you in?
15:18 December 15, 2009 by calebian22

I live in Sweden. Your Sweden, your Europe is not the one I or anyone I know envisions. I find it interesting that leftys always assume that one is uneducated if one's opinion is different from their own.
15:31 December 15, 2009 by mkvgtired
Nemesis, What would you think of joining the Euro on the condition that Greece, Italy, Ireland, Spain and Portugal must clean up their act first? This would help insulate Sweden in case one or all of those countries default. Since Sweden has waited this long do you think it would be wise to ensure all of the countries backing the Euro are stable before financially stable Sweden joins?
15:34 December 15, 2009 by Nemesis
@ calebian22

I am far from the left. I am right of center capitalist.

I happen to also believe in a strong social support net to help those who are weak, infirm and less fortunate that me and have no issue paying a bit of extra tax to help them. I am proud to be able to help those less fortunate than me.

I believe the weak have to be defended, assisted and helped to make there lives better for themselves.

I believe in the principles behind the pre-christian Brehon laws that covered Celtic Europe and am glad to see what was roughly the core European law making and social guidelines coming back in Europe after 2000 years of darkness, imposed from the Middle East.

I know Europe is not perfect, it is far from perfect. However Europe is a lot better place to live than anywhere else.

The weak are not discarded, they are helped. The infirm are helped to lead out more full lives in most European countries, allowing quite a few to contribute to society.

Women have more rights in European than most otheplaces, as do children.

In alot of countries I would ahv to wear a Burka as I had to when I visted Dubai and tried to go shopping. I will never goto the Middle East again until they ban the Burka.

On top of that I can still be a capitalist and if I have the ability, I can get rich.

Europe does not always get it right, but on average it does.

At present Europe is the main force for peace in the world, with soft power, which I admire.

Europe is for me and in my opinion it is going in the right direction.
15:45 December 15, 2009 by richardbw
OK I know the pros/cons of the euro and the need for independence vs dependance on on the EU...

...But hell my life would be easier if Sweden, Denmark and the UK adopted the euro. My wife is French and we currently have three different bank accounts (British, French, Swedish) in three different currencies. Plus I have an extra wallet for my Danish kronor! Transferring cash between non-euro-zone accounts and to/from our euro-zone account is more costly and slower than a euro-zone transfer.

Prices may rise a bit if you adopt the euro, but from our experience in France where prices increased they were minor and only momentary. The real cost for me is not being in the euro-zone!
15:54 December 15, 2009 by calebian22
@ nemesis,

You will have to forgive me for being confused considering how left and anti- capitalist your posts always tend to be. That being said, good luck with your world view and your opinions. You say potato, normally I would say po-tah-to, but in your case I say orange. We live on different planets in the same country. :-)
16:10 December 15, 2009 by Nemesis
@ mkvgtired

I would go a bit further.

Bulgaria and Romania, should be given two years to get there act together or be thrown out of the EUro and EU. The same should apply to Greece and Ireland to teach them a hard fiscal lesson which they need to learn.

In Ireland there needs to be a formal publication of how much money is actually given to the catholic church in Ireland every year. They don't have to be exact, the nearest billion will do. The fixed assets of the catholic church in Ireland are at least 40 billion Euro and they are claiming they can't pay fines to children they raped. In Ireland they need to take the hospitals and schools of the Church who owns most of them. They were all paid for by tax payers money, then handed lock stock and barrel to the Church. They belong under the ownership of the state for taxpayers.

Insanity in Ireland, such as what happened recently in Meath needs to be stopped. They tore apart, part of Ireland's and Europe's heritage by plouging a road through Meath and destroying archeology everywhere, rerouting the road so as to go through as much church land as possible, when they could have instead reactivated the old railway lines, which are still intact.

The recent changes in Irish education in which they reduced the amount spent on teaching mathmatics, engineering and science, while increasing the amount spent on teaching lawyers and bankers needs to be reversed.

There needs to be a criminal investigation into what happened to all the money that went to Ireland from not only the EU but from the Irish taxpayer.

The entire potential of Ireland is being destroyed by holding the religeous in high regard and turning a blind eye to the excess's of not only paedophiles in the church, but criminal bankers, lawyers who hide all the excess's and fraudsters in Dublin D4 and Belfast. Irelands potential north and south is being destroyed by them.

In Spain, Ireland, Greece, Romania, Bulgaria and Portugal, they need to have it explained to them what while in the EU they will spend the money on building infrastructure, universities, R&D and integrating industries across borders.

In Spain, Portugal, Ireland, Greece, Italy, Bulgaria and Romania they need to pass laws spending at least 3% of GDP on R&D and more on education, health and infrastructure every year.

Also in Spain, Ireland, Greece, Portugal, Romania, Bulgaria and Italy, they need to be told that if they don't pass all the human rights laws they are supposed to that they will be thrown out of the EU.

If they don't do all that they should be thrown out of the EU and an actual ban on there imports imposed for at least 12 months. That would wake them up. That is what I would do.

@ calebian22

Defending the weak does not have to be left or right. To me it is just simple right or wrong. Thats my viewpoint.

Don't worry, even my mum thinks I live on a different planet:)
16:19 December 15, 2009 by Lukestar1991
This news isn't very valid and its pretty contradictory in its sentiment; '44 percent of Swedes would vote yes to the euro, while 42 percent indicated they would vote no.' There is practically no difference, its a tie, which could easily change.

'the Swedish economic crisis would have likely been worse if Sweden had been part of the eurozone.

"We've been helped enormously by the krona being relatively weak," said Hammer.'

This suggests the opposite of the report, which would make you think that siginificantly more people favour the euro and for good reason.
17:04 December 15, 2009 by 2394040
The long-term benefits of giving up the kronor in favor of the euro will not be as long-term as the Swedish are being led to believe. Not only are they giving up the kronor, in the future they will find that they have also given up their unique identity in the world, as well as their freedom. When the one-world economic and political union is complete, people will be unpleasantly surprised to learn that they have lost their personal freedom. A one-world government can only be maintained by repression of the general populace. The living will then envy the dead.
17:25 December 15, 2009 by Ineke and Peter
I do not agree with the saying that joining the euro will mean that you lose your freedom etc. In many countries you have minorities and they had and have there own cultural specialities. The currency has nothing to do with that. We have seen the chance to the euro in Holland and in France as well, while we lived there. The fear that prices will rise etc. was mentioned there too by many people but in reality this was not such a big problem as many people like us to think so. For Sweden it would not be bad because it makes prices more stable and concurrence will become more and that is only good for us as consumers.
17:27 December 15, 2009 by Nemesis
@ 2394040

As is obvious from your statements you are an expert in this area. How is your campaign to reverse the dollar take over of the united states of America coming along?

If you oppose us using the Euro in Europe, I assume you oppose the dollar being used in all US states and are campaigning for the break up of the USA.

Is that your position?
18:59 December 15, 2009 by mkvgtired
Agreed. It would be better to kick out the wrong doers instead of make everyone else suffer. I was searching the ECB site but did not find anything regarding the rules about disassociating nations from the Euro. Do you know if this is possible? Now if we could only find a way to disassociate Washington from the Dollar we would be all set. Everyone would be better off.
20:14 December 15, 2009 by Nemesis
@ mkvgtired

There is mechanisms for countries to leave the EU.

If a country completely fails to keep within rules of ECB, they can start the process of leaving.
20:16 December 15, 2009 by mkvgtired
I was thinking more along the lines of leaving the common currency only, but I guess that would also work.
21:08 December 15, 2009 by krrodman

The United States is a very good example of why Sweden should think carefully before committing to the Euro.

At this time the USA is printing dollars at a furious rate to compensate for the fact that our economic policies created a horrific economic mess. We will have to live with the consequences of current devaluation and future inflation for generations to come. BUT, and this is the critical point, as a sovereign state we have the right and ability to choose that destiny.

Once Sweden accepts the Euro, it will lose the ability to manipulate its currency to compensate for economic and social policies. Let me give you an example: Let's say that Sweden chooses to allow 1 million new immigrants into the country. This would be a matter of social policy, but with obvious economic ramifications. Sweden will not be able to print new Kroner to pay for the expensive program. The economic restrictions put on Sweden will determine whether or not they can afford the new program. In effect, The European Union will determine the social policies of Sweden. In theory Bonn may tell Sweden; "Great idea, but we will not allow you to do it because you can't afford it."

If I were a Swedish citizen, I would want Stockholm, not Bonn or Brussells, to determine my fate.
21:08 December 15, 2009 by Nemesis
@ mkvgtired

Sweden is not in the Euro, so can not leave it.
03:18 December 16, 2009 by Davey-jo
Dear Nemesis

"The European Union has went out of its way to preserve European culure."

"has went" what on earth are you thinking? And this is not the only example. Get a grip.

Look everyone can see you want a job with the EU but PLEASE don't fff with the language.
05:39 December 16, 2009 by Keith #5083

"the default is a lot less and more controlled due to Euro constraints",

with these words of yours I guess you agree with me that despite the beautiful concept of a common currency, the rules governing the introduction of it are being flouted and disregarded. It is not a valid point to argue 'well, it could be worse'. When and if the currently involved governments who are party to the Euro Currency legislation manage to keep their word in accordance with the agreement they have entered into, then,maybe, would be a reasonable time to discuss Sweden also entering the Euro system.

I cannot see that we differ in respect of the Culture preserving aspects of the EEC Social Fund. My point was simply that a common currency has the potential to remove one of the most noticeable aspects of any culture.

The Euro legislation is not simply about a common currency! There are many other financial aspects involved with the legislation. It is the 'add-ons', and the inability of contracted governments to fulfill those 'add-ons' that disturb me.
11:55 December 16, 2009 by the fonz
There is simply no econoomic reason for joining. Sweden has done very well by opting out and is not a desparate weak economy that simply has no choice. Sweden is able to adapt her own monetary policy to suit the prevailing economic conditions in SWEDEN. If you think that the ECB will give a damn about the Swedish economy when France and Germany require differing policies - think again.
12:27 December 16, 2009 by bettan1
The one thing anyone can count on is that when leaders of any country make a final secision on anything, it will be doomed for failure. As this world continues, the problems continue to maount one after another. One thing is for sure, the Euro will make living in an already greedy socialist country more expensive than ever before. Let's face it, the E.U. was designed by the Reich Partners of Germany and France who basically run everything anyway.

I spoke some time ago with someone who immigrated to Sweden from Greece. They said that before the introduction of the euro, life was easier, especially for family life. Fathers worked at a job and supported the family. Then after the Euro, it was necessary to have two jobs and mothers also had to go to work. The same story comes from the other mediterranian countries of Italy and Spain. The introduction of the euro has always been about big business in bed with politicians. The average citizen was never really taken into account except to indoctrinate with same old socialist promise of more entitlements. People have to be continually dumbed down and made dependent in order for such governing to work. In the end, nothing really changes. The same old problems continue to plague mankind, the only difference is I'm seeing more and more protest groups all over the place now trying to drum up support for their version of Truth. Downtown Göteborg along with every other big European city looks like the poster child setting for any wacko Red Flag carrying Communist or Nazi Movement that decides to rear it's ugly hatred.
13:57 December 16, 2009 by 2394040

Sorry I wasn't able to respond sooner. I don't lurk about on websites waiting for the opportunity to make sarcastic remarks. Did you perhaps fail reading comprehension tests in school?

It's quite obvious that you totally missed the point of my remarks. So I won't waste my time analyzing your nonsensical remarks.

What I am saying is that placing more and more economic power into the hands of fewer and fewer people will NOT create a better world. I won't provide you with examples, because those are available in just about any book on world history as well. Oh! And did you fail history as well? No doubt you never heard about the old adage: "Those who will not learn from history are destined to repeat it." Then you are also unaware that the lust for power is the universal value.

I could go on and on. But I'm afraid anything else I might say would be totally lost on you.
14:23 December 16, 2009 by Keith #5083

Well said. I totally agree.This is not a nationalistic issue, but a fiscal one.

If other EEC countries could follow Sweden's economic management outlook (as GB and USA have done in their financial rescue scenarios) then maybe they could keep the fiscal promises they made when they joined the Euro currency.
15:29 December 16, 2009 by mkvgtired
I realize that. I was referring to the slackers (Greece, Portugal, etc.). I was trying to figure out if a country could leave the Euro but continue to be a member of the EU.
21:51 December 17, 2009 by lingonberrie

Have the good common-sense to give this argument up. At least five intelligent, coherent and articulate posters have effectively neutered whatever logic or whatever theses that you posit to defend your argument.

You are left with this unbending, emotional rambling-on rant that simply makes you look foolish.

l lived in Italy for three years, with both the LIra and the Euro, and I can assure you that the Italian people saw an immediate change upward in prices for everything.

Everyone that I knew and met wanted their Lira back. As well, giving up the right to rule yourself instead of investing that right in Brussels ,Berlin, et al, was and is still frowned upon in Italy.

Italy has their problems, no doubt, and one of those problems is the Euro.
16:30 December 29, 2009 by Hagen
Nemesis posted.:-The Euro is a tool for allowing people to do business acrossborders with less beaurocracy and lower costs. The European Union is acively trying to reduce internal EU cross border business costs. ""

The EU has demanded that Banks in the eurozone stop their Banking Secrecy policies, they want to know about all transactions.

Secondly, I can tell you from experience that prices doubled when the Euro was introduced.

Thirdly, there are countries in the Eurozone that are hovering on the brink of Bankruprcy, the Euro is not as strong as you may think it is !!
09:31 February 5, 2010 by Keith #5083
I predict that within 3 months this nominal increased support for Euro membership will have reversed to a considerable majority against as the full extent to which at least 6 participating members have breached the agreement becomes more widely publicised.

These 6 include 2 states who were prime movers for the 'single currency and additional controls' agreement, one of which has already been fined for breaches.

The extent to which creative accounting has been used by some member governments to appear to fulfill the terms of the agreement,is staggering.
17:48 February 5, 2010 by byke
I favor the euro.
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