Looks like the immediate impact of the Swedish vote on the euro is that their currency is strengthening, their national debt decreasing and imports from the EU are cheaper. I can't see how the europhiles in Britain can spin this in their direction.
Dire predictions for Sweden are not panning out. However, what happens if other euro countries start to question their participation in the euro? I'm thinking of the Germans, in particular.
It's not a topic too many in Ireland are that keen on, yet it's of fundamental concern to each of us and our economic well-being. It's bad enough we joined the euro when managing our own currency seemed the best option (balancing our currency along with our trade interests among the mainland European countries, the UK and the US), but what if some of the key members start getting shaky. It's still possible that the euro project will fail or that the main players (those who can breach the Stabilty Pact without sanction) might ask those peripheral members who are causing 'distortions' in the currency to drop out again.
It's always possible that the political forces that forged the euro could easily be reversed, at least partially. The euro was never an economically sound project and if the political justification founders, the euro will too.
