Sweden votes to join the Euro or keep the kronor on Sunday and polls overwhelmingly show the Swedish people rejecting the Euro.
With France, Germany, and Italy all essentially pulling out of the Maastricht Treaty’s limitations on national debt, it is becoming more and more likely that the Euro is headed for disaster. The ECB’s refusal to cut interest rates, the increasing amount of EU bureaucracy, and the ossifed Continental labor markets mean that the massive spending being made across the Euro-zone will only produce more economic problems rather than less.
Sweden is right to reject the Euro until the EU member states can stick to the rules.
Also, in another bizarre twist, Swedish foreign minister Anna Lindh was stabbed in a Stockholm department store today by an unknown assailant. Police do not yet have evidence to a political motive, but given that adoption of the Euro is opposed by both the far right and the far left in Sweden, there are any number of suspects. Fortunately Minister Lindh’s wounds are not life-threatening and she is expected to make a full recovery. Such violence is not entirely unheard of in Swedish politics, as Prime Minister Olof Palme was shot to death in Stockholm in 1986 under mysterious circumstances and the crime remains officially unsolved.
Tragically, Minister Lindh has died from her wounds. I would like to extend my sympathies to the Swedish people and the family of Anna Lindh on their loss. Spaker Björn von Sydow has a moving eulogy of Anna Lindh.