The Euro was established by treaty in 1992, named in 1995, introduced in 1999 for accounting and as physical cash in 2002.
Anyone joining the EU before 1992 could simply reject the Euro because it wasn’t a part of the deal when they joined. Only Denmark and United Kingdom opted out.
Between 1992 and 1999 only 3 countries joined the EU. Finland and Austria decided to join the Eurozone. Sweden decided to “wait”.
Anyone joining since then has to switch as soon as they meet the requirements.
This leaves Sweden in a unique position, which is why nobody is giving them too much of a hard time for ensuring that they never technically fulfill the requirements for switching.
Funny to pick Sweden. They are actually obligated to adopt the Euro per the terms of the treaty as soon as they meet the adoption criteria, but are playing some cute games to intentionally avoid ever meeting the criteria. It’s unlikely another member state would get away with the same playbook.
Denmark is the only eu member who negotiated to not have to adopt the Euro ever. The UK was exempt too but I don’t expect they’ll get that back. There is much more worthwhile things to go for, and it’s not like the pound is as strong as it was in 2001 either.
I’m all for constructive cooperation moving forward, as long as the UK never gets its special priviledges back.
Yeah. No “refund”, they switch to the Euro, and ideally join Shengen.
Euro is not a requirement of being in EU. See Sweden for instance.
The Euro was established by treaty in 1992, named in 1995, introduced in 1999 for accounting and as physical cash in 2002.
Anyone joining the EU before 1992 could simply reject the Euro because it wasn’t a part of the deal when they joined. Only Denmark and United Kingdom opted out.
Between 1992 and 1999 only 3 countries joined the EU. Finland and Austria decided to join the Eurozone. Sweden decided to “wait”.
Anyone joining since then has to switch as soon as they meet the requirements.
This leaves Sweden in a unique position, which is why nobody is giving them too much of a hard time for ensuring that they never technically fulfill the requirements for switching.
Funny to pick Sweden. They are actually obligated to adopt the Euro per the terms of the treaty as soon as they meet the adoption criteria, but are playing some cute games to intentionally avoid ever meeting the criteria. It’s unlikely another member state would get away with the same playbook.
Oh, I didn’t know that. Thanks for brand new knowledge!
Denmark is the only eu member who negotiated to not have to adopt the Euro ever. The UK was exempt too but I don’t expect they’ll get that back. There is much more worthwhile things to go for, and it’s not like the pound is as strong as it was in 2001 either.