Just as Clegg and the Lib Dems say the UK is as far away as it has ever been from joining the common currency, it seems that the rest of northern Europe is starting to change its mind.
As yesterday’s Independent reported,
The Danish and Swedish governments have begun preparing the ground for referendums on joining the euro, as part of a huge political reversal across Europe’s northern fringes in favour of the single currency. Although voters have overwhelming rejected the euro in the past, both countries are now pointing to the recent damage inflicted on their national currencies as evidence that staying out has left them dangerously over-exposed to market vagaries.
Read the rest of the article here.
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One Comment
They are smaller countries tho’, so international turbulence is more likely to hit them. The implications for Britain are relatively small. The £ has fallen, but it has not yo-yoed, and there seems little likelihood that we need to raise interest rates to protect the pound in the international money markets. (cf Iceland, Hungary)