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Technically, new EU members are required to join the Eurozone at some point. Only Denmark (and - before Brexit - the UK) have an explicit opt-out. But Sweden,
by Svip 4y ago
Technically, new EU members are required to join the Eurozone at some point. Only Denmark (and - before Brexit - the UK) have an explicit opt-out. But Sweden, which does not have an opt-out, have yet to join the Euro as well, and has no plans of doing so. So I'm not sure about the exact rules here.
- yrgulation 4y agoThe rules are you have to but when you want, are allowed, or the time is right. Like sweden no one is made to commit to a date.
- yokaze 4y agoI think, it is reasonably explained here: https://en.wikipedia.org/wiki/Enlargement_of_the_eurozone https://en.wikipedia.org/wiki/Enlargement_of_the_eurozone They are required to adopt the Euro, as soon as they fulfill the Convergence criteria Those convergence criteria include "Compatibility of legislation", and Sweden simply doesn't make their laws compatible. (Details here: https://ec.europa.eu/info/sites/default/files/economy-finance/ip179_en.pdf https://ec.europa.eu/info/sites/default/files/economy-financ...) In summary, they have to join, if they are compliant. For that they have to pass laws, and they chose not to. So, it isn't quite as mandatory as some people paint it. To quote from the report: > The Swedish authorities are invited to remedy the abovementioned incompatibilities
- Ekaros 4y agoAnd Denmark is interesting case as they have opt-out, but they are still pegged to Euro...