More Swedes want to switch currency from the krona to the Euro, with support the highest it’s been since 2009, according to a survey by Gothenburg University’s SOM Institute.
Paywall? https://archive.is/ZXdUu
More Swedes want to switch currency from the krona to the Euro, with support the highest it’s been since 2009, according to a survey by Gothenburg University’s SOM Institute.
Paywall? https://archive.is/ZXdUu
You’re twice addressing whether something is a problem by saying it’s only a problem if someone fucks up. Meanwhile I’m not discussing that because it’s not interesting. Yes problems can occur when people do the wrong thing. And people can and will do the wrong thing. They’ll also do the right thing. I’m discussing the availability of a tool under domestic disposal and what its implications are.
Similarly, I’m not discussing the obvious case of a government’s ability of selling to its friends, it’s not interesting. I’m discussing the case where the public and its government don’t want to do that but are ideologically committed to balancing budgets without creating new money. Canada was in recession in the early 1980s and the early 1990s. Irrespective of that, the Canadian governments that spanned the 1983-2003 period ran on balancing the budget and austerity+privatization to achieve it and they were not considered friends-selling governments. You can read about the economic policies at the time.
What I am saying is that if the economy grows and the it requires more money, then adopting the euro there are two options. Either money flows in from other countries or the European Central Bank raises interest rates. Unlike just adopting another countries currency like say Ecuador the USD, joing the Eurozone wourld mean that Sweden gets a seat on the Gouverning Council of the ECB, which gives them a vote on raising interest rates or other central bank policies.
As for the second point. Between 1983 and 2003 Canadas economy shrank for only a single year. Debt to GDP was at its highest in 1997, so they most certainly did not give a crap about balancing the budget or anything like it. They wanted to sell public assets and needed an excuse to do so. Thats all that is an excuse.
Yes, joining the Eurozone isn’t as bad as adopting the USD while not being the US.
I’m just going to leave this here and tap out.
Source: https://stats.gov.nl.ca/Statistics/Topics/labour/PDF/UnempRate.pdf
Sure some have used the opportunity. Large capitalists always use bad times to buy up what they can, private or public. But bad times were most certainly had and they’re documented.