Expertenwechsel: Meint, Schweden sollte die Währung auf Euro umstellen
https://www.news55.se/privatekonomi/expert-svanger-tycker-sverige-ska-byta-valuta-till-euro/
Von No_Firefighter5926
Expertenwechsel: Meint, Schweden sollte die Währung auf Euro umstellen
https://www.news55.se/privatekonomi/expert-svanger-tycker-sverige-ska-byta-valuta-till-euro/
Von No_Firefighter5926
21 Kommentare
Lars Calmfors was one of the strongest voices behind Sweden abandoning the euro as its currency in the 1990s. Now the economist has changed his mind. “The euro would be best for the Swedish economy.”
When Lars Calmfors led the EMU inquiry in 1996, the main argument against the euro was the risk that Sweden would end up in a different economic phase than the rest of the world and thus need its own monetary policy. That assessment remains in theory, but carries less weight today, according to him.
Krona or euro: What is best for Sweden?
„The strongest purely economic argument for euro membership is that it eliminates exchange rate uncertainty against the euro countries,“ says Lars Calmfors now in Placerapodden.
He points out that new research has emerged since the 1990s. According to these studies, trade between euro countries increased by 10–15 percent after the introduction of the euro, with even greater effects on foreign direct investment. In the long term, this can lead to higher incomes and increased welfare.
Huge boost for the Swedish economy
„And although it is difficult to translate exactly, I think that 2–3 higher GDP per capita in the long term is a reasonable estimate,“ Lars Calmfors tells Placera.
Calmfors also highlights that many of the major crises since the turn of the millennium have been global – such as the financial crisis, the pandemic and the inflation crisis of 2022–2023 – which has meant that economic cycles have moved more in sync between countries. At the same time, Sweden today has strong public finances and greater fiscal policy room for maneuver than in the 1990s.
Inflation and loss of the Swedish krona
A common argument against the euro is that the krona can act as a shock absorber in crises. But according to Calmfors, the opposite happened during the most recent inflation crisis, when the krona’s fall made it more difficult for the Riksbank to combat inflation.
No conclusion, but euros would be best
Despite the economic arguments, he notes that there is considerable popular resistance. If the issue is to become relevant, a longer period of informed debate is required, and ultimately a new referendum.
Is the strong EURO currently not right now a problem?
No thanks
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At least he has the wherewithal to admit he was wrong. It would have been great if he had maybe applied this logic ahead of time instead of after the fact?
The whole anti-euro argument in the 90s was based on emotion and romanticising the krona, not logic.
I don’t really mind at this point, I’m all for a stronger EU but I don’t know if public sentiment agrees.
The only reason I didn’t like switching to euro last referendum was mostly nostalgia and this secondary (still not very well informed on) reason of hurting the economy. If it turns out it’s more economically beneficial according to experts I say we try it. EU seems like the last bastion of reason at the moment and I’m all for strengthening it however we can.
It may help sweden business, government economy but will it help a common Swedish??
Switching to dinar is more likely
I wish Sweden adopted the Euro. I trust the relevant Swedish authorities enough to make a painless transition.
This is stupid. Why would sweden take on the debt levels of the eurozone? Sweden has really good levels of debt compared to the eurozone. Any of the big countries could
Default in the coming years why should Sweden pay for that?
I am from a Euro country, and Swedes should expect a sharp decline in economic conditions and (subsequently) standards of living, should they abandon the Krona. It’s not like you will switch from LEV or similar.
It will disproportionately affect the lower classes as well.
Seems like people in this thread already forgot the discussion during the last euro crisis and the tensions created between the Mediterranean countries and the others due to the accumulated debt.
Just mention the Troika in southern Europe and see what kind of replies you will get.
None of the fundamental issues have been resolved since then – just look at the deb ratio of Italy and the growing debt in France. As far as I know, the still don’t fulfill the Euro convergence criteria:
https://en.wikipedia.org/wiki/Euro_convergence_criteria
Calmfors focuses a lot about the economic reasoning, but the discussion here in Sweden at the time was also a lot about the setup of the Euro governing bodies and that it was not very democratic.
And most Swedes and Swedish experts thinks Sweden shouldn’t.
Just another day of a certain group of accounts pushing for Countries like Sweden, Poland, [Czechia](https://www.reddit.com/r/europe/comments/1oi1522/czech_scepticism_about_the_euro_is_based_on/) to switch to Euro,
For countries like [Norway](https://www.reddit.com/r/europe/comments/1o5dlu4/norwegian_support_for_joining_eu_increased_by_10/), [Iceland](https://www.reddit.com/r/worldnews/comments/1p2du8t/trade_tiffs_aside_eu_membership_is_icelands_best/), Switzerland to join the EU,
And for the EU to become a federation.
Its becoming fucking boring to read this every day on this sub.
I also want to note, that after writing this comment, I checked OP’s account and in fact, the account is pushing for the exact things I mentioned which I hyperlinked above. Check for yourself before they hide their account history.
When Russia does things like this, it’s very bad. But when other agendas use this platform to do similar things, it’s fine? I don’t believe it is.
Everyone should understand we either use the Euro. Or we’ll use rubles.
Krona for the Swedes.
My head will always use krona
Giving up control of your own currency is the dumbest possible move a country can make. Might as well just hand control of your economy to Ursula….
Not an economist, but this is my vague understanding. The Swedish economy is a bit like the German Mittelstand. Export driven smaller companies and a few heavy weights. Keeping the krona cheap makes it easier to keep those industries alive, but also makes them less efficient and innovative. Some big companies have seen their best days long time ago like Erikson, or the profits go to other places like China as for Volvo or to the US in case of Spotify. Joining the Euro would reduce a lot of friction and attach the Swedish economy better to Europe. As the overall European economies are doing better than Sweden these days, this seems attractive. On the other hand, in times of crisis, Sweden could much easier devalue the krona to keep industries competitive. It would also have more say over policies and not be dependent on central decisions in Brussels.
As a swede, I strongly disagree. If we do this, we lose power over an important aspect of our financial system. People seem to be quick to forget, but the euro system caused mayhem during the euro crisis and I would like to avoid that. Besides, doing this would mean that we abolish Sveriges Riksbank, which is the oldest central bank in the world. It would be both a financial loss and a loss of a cultural heritage. Horrible idea.
As someone living in Sweden, I disagree.
It looks to me as the economic cycles of the european countries have significantly aligned in the past 25 years, at least in western europe. Would this be enough to justify the switch ?
Given the good reputation Sweden has, i doubt that its state and its private actors borrow at rate significantly different from those in the eurozone.
But the main point – which very few are talking about in the Eurozone as $/€ is the main concern – is that the krona has been steadily declining against the euro for 15 years now, a roughly 25% decrease. This is a signficant variation and no doubt Sweden has benefited from the policy.