2012: Ten Converging Signs

Sweden does not currently use the euro as its currency and has no plans to replace the krona in the near future.

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Sweden's Treaty of Accession of made it subject to the Treaty of Maastricht , which obliges states to join the eurozone once they meet the necessary conditions. Sweden joined the European Union in and its accession treaty has since obliged it to adopt the euro once the country is found to comply with all the convergence criteria. The SEK floats freely alongside other currencies. Most of Sweden's major parties believe that it would be in the national interest to join, but they have all pledged to abide by the result of the referendum.

The EU has accepted that Sweden is staying outside the eurozone on its own decision. Olli Rehn , the EU commissioner for economic affairs has said that this is up to Swedish people to decide. Despite this, the euro can be used to pay for goods and services in some places in Sweden. Sweden meets three of five conditions for joining the euro as of May The table below gives further details:.

Prior to this date Sweden used Swedish riksdaler.

In Norway joined this union. The new currency krona became a legal tender and was accepted in all three countries — Denmark, Sweden and Norway. This monetary union lasted until , when it was brought to an end by World War I. As of , the names of the currencies in each country have remained unchanged "krona" in Sweden, "krone" in Norway and Denmark.

According to the treaty Sweden is obliged to adopt the euro once it meets convergence criteria. A referendum held in September saw As a consequence, Sweden decided in not to adopt the euro for the time being. If they had voted in favour, Sweden would have adopted the euro on 1 January A majority of voters in Stockholm County voted in favour of adopting the euro In all other polls in Sweden, the majority voted no.

Some stores, hotels and restaurants may accept euros, often limited to notes and giving change in Swedish Kronor. This is especially common in some border cities. Shops especially oriented towards foreign tourists are more likely to accept foreign currencies such as the euro than other shops. Matters such as official currency status and legal tender issues are decided by the Swedish parliament, and the euro is not an official currency of any part of Sweden.

Nevertheless, politicians from some municipalities see below have claimed that the euro is an official currency of their municipalities. This means that the municipality has made an agreement with many shops that they should accept euros in cash and credit cards.

The only Swedish city near the eurozone is Haparanda , [37] where almost all stores accept euros as cash and often display prices in euros. Haparanda has become an important shopping city with the establishment of IKEA and other stores. Some municipalities, especially Haparanda, wanted to have the euro as a legally official currency, [38] and, for example, contract salaries in euros to employees from Finland.

However, this is illegal due to tax laws [ citation needed ] and salary rules. The actual payment can be in euro, handled by the bank, but the salary contract and the tax documentation must be in kronor. Haparanda's budget is presented in both currencies. Dual pricing is used at many places and ATMs dispense either currency without additional charge the latter is law all over Sweden. Around 60 percent of stores in the town are reported to have signed up to the scheme and local banks have developed guidelines to accept euro deposits. This has been a rather successful PR coup, with good coverage in newspapers, and it has been mentioned also in foreign newspapers.

Some shops accept euros, and price tags in euros exist in some tourist oriented shops, as in more cities in Sweden. Acceptance of and price tags in Danish kroner are probably more common. The euro is often accepted in shops and sometimes shown on price tags, but there is no official adoption of the euro from the municipality point of view.

However, there was a political proposal to officially adopt the euro in Pajala. There was a political proposal in June from a party in the Sollentuna Municipality , that the municipality should adopt the euro as its parallel currency in Stockholm is the most important tourist city in Sweden, measured as the number of nights spent by tourists. Some tourist-oriented shops accept euros, although there is no official policy from the municipality.

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Taxi services in Stockholm can be paid in euros. Some cash machines may dispense foreign currency. Usually the euro is the foreign currency dispensed, but sometimes British pounds , US dollars, Danish kroner or Norwegian kroner are dispensed instead. All of these cash machines also dispense Swedish kronor. Most of these cash machines are located in major cities, international airports and border areas. The euro is present in some elements of Swedish law, based on EU directives.

For example, an EU directive states that all transactions in euros inside the EU shall have the same fees as euro transactions within the country concerned. This means, for example, that euros can be withdrawn without fees from Swedish banks at any ATM in the eurozone, and that krona- and euro-based transfers to bank accounts in the European Economic Area can be done over the internet without a sending fee.

The receiving banks can still sometimes charge a fee for receiving the payment, though, although the same EU directive typically makes this impossible for euro-based transfers to eurozone countries. This is different from, for example, Denmark where banks are required to set the price for international euro transactions within the EEA to the same price as for domestic Danish euro transactions which does not have to be the same as the price for domestic Danish krone transactions.

However, banks in Sweden still decide the exchange rate, and so are able to continue charging a small percentage for exchanging between kronor and euros when using card payments. It is also now possible for limited companies companies limited by shares to have their accounts and share capital denominated in euros. Most major political parties in Sweden, including the formerly governing coalition Alliance for Sweden except the Center Party and the currently governing Social Democratic party , which won the election , are in principle in favour of introducing the euro.

Tommy Waidelich , then economic spokesperson for the Social Democratic Party , ruled out Swedish eurozone membership for the foreseeable future in August The newspaper Sydsvenska Dagbladet claimed on 26 November a few days after the former Danish Prime Minister , Anders Fogh Rasmussen , had announced plans to hold another referendum on abolishing Denmark's opt-outs including the opt-out from the euro that the question of another euro referendum would be one of the central issues of the election in Sweden.

Swedish politician Olle Schmidt in an interview with journalists from the European Parliament when asked when Sweden will have good reasons to adopt the euro, he said "When the Baltic countries join the euro, the whole Baltic Sea will be surrounded by euro coins. Then the resistance will drop.

I hope for a referendum in Sweden in The social democratic party leader Mona Sahlin at the time has stated that a new referendum will not occur in the period —, because the referendum still counts. The EU commission revealed in plans to put pressure on the remaining EU countries to adopt the euro no later than During the election campaign for the European Parliament elections , Liberal People's Party and Christian Democrats expressed interest in holding a second referendum on euro adoption.

However, the Moderate Party and Centre Party thought that the time was ill-chosen. A economic study from J. James Reade Oxford and Ulrich Volz German Development Institute on the possible entry of Sweden in the eurozone has found that it would be likely to have a positive effect. The study of the evolution of the Swedish money market rates shows that they closely follow the euro rates, even during times of economic crisis.

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This shows that Sweden would not lose in terms of monetary policy autonomy, as the Swedish Central Bank already closely follows the rates set by the European Central Bank. When adopting the euro, Sweden would swap this autonomy on paper for a real influence on the European monetary policy thanks to the gaining of a seat in the ECB's governing council. Overall, the study concludes that "staying outside of the eurozone implies forgone benefits that Sweden, a small open economy with a sizable and internationally exposed financial sector, would enjoy from adopting an international currency.

Prime Minister Fredrik Reinfeldt stated in December that there will be no referendum until there is stable support in the polls.



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Since opinion polls have shown a strong support for "no". Polls on the question whether Sweden should abolish the krona and join the euro are regularly carried out, usually by the state statistics agency Statistics Sweden SCB.

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The results are always published in the press or online. If there were to be a referendum on the euro by the end of this month, what would you vote? Are you for or against: A European Economic and Monetary Union with one single currency - the euro? How the polling questions are phrased has a major impact on how people respond. However, polls conducted by TNS Polska in Poland showed that this question finds a large group of supporters of euro adoption would vote no to adopting the euro as soon as possible, but that a majority of them would vote yes if asked whether or not the state should adopt the euro ten years from now.

There are no designs for potential Swedish euro coins. It was reported in the media that when Sweden changed the design of the 1-krona coin in it was in preparation for the euro. A newer portrait of the king was introduced. Please note the reservation has to be made at least a week prior to your scheduled arrival. For group tickets purchasing, please contact Tel: The works of these visionary artists are displayed along an imagined ritual path of concepts and forms, materials and mediums, gestures and actions, and they explore different registers of metamorphosis. This poetic journey leads us to question the certainty of narratives, provokes reflections and ideas, and sparks the desire to seek out divinatory signs.

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