Sweden, with a majority larger than expected, rejected the introduction of the euro. More than 56 per cent of those who voted decided they would rather not be part of the common monetary area. The clear “no” was apparently not affected by the murder of the Foreign Minister, an avid supporter of the common currency for Sweden. The loud and resounding rejection of the euro implies as well that Denmark and Britain will not have referenda on the adoption of the euro any time soon. If Sweden had adopted the euro, it was hoped, this would have created a wave of support for the common currency on which the Danish and British governments might have sailed easily into the euro haven. Now, instead, this idea (or illusion) has to be given up, confounded in the British case by further domestic troubles. It is doubtful that Tony Blair will be able anytime soon to convince his fellow citizens to trust him again.
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