After Russia’s invasion of Ukraine triggered an about-face on NATO membership, Sweden is starting to consider another historic shift: adopting the euro.
While the debate is in its early stages, a subtle but notable shift is taking place as conditions change. In 2003, when voters rejected Europe’s common currency in a referendum, the focus was on the krona’s ability to act as a buffer for the largest Nordic economy, but now geopolitical concerns have added a new dimension.
On top of threats from Russia and China, U.S. President Donald Trump’s “America First” foreign policy — including threats to acquire Greenland from neighboring Denmark — underscore how smaller economies are exposed in an era of great-power rivalries.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.