Fifteen years ago, Swedish citizens were asked if they wanted to join the eurozone. Of the more than 80 % of registered voters participating in the referendum close to 57 % said NO.
Yours truly — unlike the ‘usual suspects’ among establishment economists — participated actively in the fight against the euro — and it’s still something I’m immensely proud of....Lars P. Syll’s Blog
My finest hour
Lars P. Syll | Professor, Malmo University
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In Scandinavia the Danes, Swedes, Norwegians, and Icelanders were smart enough to reject the euro-scam.
However the Finns submitted to the euro.
Finland has spent most of the last ten years suffering from a trade deficit. This trade deficit, plus the euro, has been economically devastating for Finland, such that for years, Finland was widely known as the “sick man of Europe.”
Now Finland is enjoying a trade surplus. Finland’s biggest customer is Russia. Finland has been able to increase its exports to Russia because the Western Empire’s sanctions against Russia have decreased the rest of Europe’s exports to Russia. Because of the sanctions, Finland faces less competition in shipping to Russia.
This trade surplus has greatly helped the Finnish economy. A March 2018 U.N. report called Finland the “happiest country in the world.”
However if Finland once again swings back to having a trade deficit, then Finland will again become a gloomy place, because of the euro. Finland’s main exports are electrical equipment. This requires Finland to import raw materials (nickel, lithium, cadmium, steel, etc.). At present, commodity prices are not high. But if they rise again, Finland will be in trouble.
CONCLUSION:
Lars P. Syll in Sweden is justifiably proud of having opposed the euro.
Sweden dodged a bullet.
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