Sweden : “Nej” to the euro
Voters were 56.1% to reject the adoption of the single currency, while 41.8% agreed. The victory of the “no” is without surprise, but it is more massive than expected and reflects the mistrust of Swedes in respect of a euro zone which has been demonstrated nor its economic and financial rigor nor his desire to preserve a social model original.
The very strong feelings provoked by the assassination of Foreign Minister Anna Lindh, had no impact on the vote of Swedes. There have been no phenomenon of “sympathy vote”, stating that the passion has not prevailed over reason in this case. Voters are not only voted by an overwhelming majority against adopting the single currency, but also with a participation rate of 81.2% which leaves no doubt on the mobilization of the electorate. It is a tough blow to the Swedish government and politics of his europhile Prime Minister Goeran Persson, whose team, including his late Foreign Minister, had not spared his sentence to try to convince their fellow citizens. His political authority emerges weakened, wrote essentially the Swedish press on Monday. In Stockholm, the first comments felt that the choice of voters constituted a disavowal for the political class and economic elites of the country, noting that the “yes”, which have a majority of 80% of seats in the assembly , Should nevertheless continue to govern despite the problem of legitimacy that now pose the ballot on Sunday. The reactions within the Union are either embarrassed or ironic, even genius. Indeed, in EU countries where the euro has not yet taken place, the decision reinforces the Swedish opponents in their position and disconcerting supporters. It is likely that the position adopted Sunday by the Swedes will be without consequence on the next steps for the establishment of the single currency within the Union. The Danish opponents (who have already rejected the single currency in 2000) and the British could see away the prospect of a referendum the results uncertain. On the other hand, the “no” reinforces the Swedish supporters of a measured accession to the Union, variable geometry in a way.
A test for the euro area
The President of the Commission expressed its unpleasant surprise. “I can not deny that it is a result worse than I expected,” acknowledged Romano Prodi. In Brussels, as in the capitals most involved in the construction of Europe, it minimizes the scope of the decision of voters. According to the commissioner in charge of foreign trade the choice is “more psychology than economics.” “Identity politics”, the “tradition of independence” are the heart of the explanation. The issue of bad example set by the “engines” of Europe, France and Germany, which exonerate their commitments digging shamelessly deficits is barely mentioned, while the president of the European Central Bank hastens to say that “the outcome of this referendum will have no impact on the policy of the European Central Bank, or its operation, nor on the position of the euro”. The Austrian press, it evokes the collateral damage of the French and German. However, if the referendum a test, especially since it demonstrates the euro area is not an attractive economic package for a developed country which, like Sweden, can still rely on its own resources without having to sell off the achievements of its model Social seriously challenged in the country “in continental Europe.” Sunday morning, the euro zone expected dozen countries-members. Sunday evening, Swedish voters had decided that, on balance, the economy within the euro zone was ultimately not likely to bring greater prosperity and could well remain in the state. Even if the EU absorbs 40% of Swedish exports.
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