Sweden nixes euro

[Sven R Larson <slarson@xxxxxxxxxxxx>]

Sweden has voted a solid no to the currency union. This creates two problems:

1/ The country is bound by the Maastricht Treaty to join. The EU Commission
will therefore have to force them to close the ranks.

2/ Some East European countries are hinting they might stay out of the
currency union with reference to Sweden's refusal to fulfill its part of the
Maastricht Treaty. This undermines the authority of the EU Commission.

Look forward to an interesting fall and winter on the European scene.

/srl

--
Dr. Sven R Larson
Department of Economics
Skidmore College
815, North Broadway
Saratoga Springs, NY 12866
(518) 580 5278