Politico: Debates have taken place in the Swedish parliament regarding the abandonment of the krona in favor of the euro.
Debates have taken place in the Swedish parliament regarding the possibility of transitioning from the krona to the euro, writes Politico, noting that over the past decade, the local currency has lost more than 20 percent of its value and, although it has managed to recover slightly recently, there are fears in Stockholm of 'global upheavals and potential military threats.'
The discussion has been initiated considering that the central bank of the kingdom previously pointed to an increase in uncertainty, including related to the trade and foreign policy of the United States, while Finance Minister Elisabeth Svantesson stated that her Moderate Coalition Party will create an expert group to 'assess the advantages and disadvantages of joining the eurozone' in the event that they remain in power following the September elections.
If military escalation occurs in the Baltic region or other major upheavals, the krona could quickly depreciate, which would have serious consequences for the economy, explained the chief economist of the Swiss EFG Bank, Stefan Gerlach, to the publication.
Sweden joined the EU in 1995, but in 2003, 55.9 percent of referendum participants voted against the country's transition to the European currency.
