When the common European currency was launched, Milton Friedman
predicted with eerie foresight: “Sooner or later, when the global
economy hits a real bump, Europe’s internal contradictions will tear it
apart.”
predicted with eerie foresight: “Sooner or later, when the global
economy hits a real bump, Europe’s internal contradictions will tear it
apart.”
In 2003, Sweden held a referendum on the issue of joining the EMU.
The Swedish elite on both the left and the right virtually uniformly
supported joining. The Economist at the time described the referendum as “the people versus the establishment.”
Due to a guerrilla campaign and with a help of a number of
independent minded economist (most prominently Lars Wohlin and Nils
Lundgren), the people defeated the establishment, saving Sweden from the Eurozone meltdown. Sweden is performing better than the Eurozone
countries economically. Key economic indicators from the OECD
The Swedish pubic have soured further regarding the Euro as they watch
the European economy burn down around us every night on the new. Here is a graph of public opinion
http://wallstreetpit.com/99801-sweden-and-the-euro-logos-driven-people-vs-pathos-driven-establishment/
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