Sweden Plans to Abandon National Currency and Adopt Euro - Like Latvia 0 11

The current global situation highlights the vulnerability of small economies in the era of great power rivalry, the publication notes.

“Sweden is now a full member of NATO, and we are strengthening our defense together with our EU partners. But we still stand with one foot outside the system, as we do not participate in currency cooperation,” said Cecilia Renn, a member of the Swedish Parliament from the Liberal Party.

As Bloomberg notes, the argument for switching to the euro is that a single currency would strengthen political ties and give Sweden a seat at the negotiating table when it comes to pan-European currency issues.

It would also promote trade expansion and facilitate direct investments, the agency writes.