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Skunk · 09-15-2003, 03:54 AM

This is a great loss for Sweden. Many companies have chosen to remain in Sweden pending the outcome of the vote and threatened to leave if the vote was a 'NO'. Even Ericsson (perhaps Sweden's most famous brand) had already threatened to scale back manufacturing operations in Sweden in favour of euro-zone countries or other countries with a more stable currency.

That said, unemployment in Sweden is rising, so reduced wages as a result of this may be enough to off-set the losses from exchange rates that some companies are experiencing; but only in the short term.

Being faced with unemployment or reduced wages is no cause for celebration - but that said, their loss is potentially our gain, as Ericsson demonstrates, so I don't see this as a bad result for the existing euro-zone members.

[ 09-15-2003, 04:46 AM: Message edited by: Skunk ]

09-15-2003, 03:54 AM	#10
Skunk Banned User Join Date: September 3, 2001 Location: Amsterdam, The Netherlands Age: 63 Posts: 1,463	This is a great loss for Sweden. Many companies have chosen to remain in Sweden pending the outcome of the vote and threatened to leave if the vote was a 'NO'. Even Ericsson (perhaps Sweden's most famous brand) had already threatened to scale back manufacturing operations in Sweden in favour of euro-zone countries or other countries with a more stable currency. That said, unemployment in Sweden is rising, so reduced wages as a result of this may be enough to off-set the losses from exchange rates that some companies are experiencing; but only in the short term. Being faced with unemployment or reduced wages is no cause for celebration - but that said, their loss is potentially our gain, as Ericsson demonstrates, so I don't see this as a bad result for the existing euro-zone members. [ 09-15-2003, 04:46 AM: Message edited by: Skunk ]