EU monetary affairs commissioner Joaquin Almunia has said that Brussels could in theory take Sweden to Europe’s top court for not joining the euro despite meeting all the economic criteria - but he added that such action “is not necessary or desirable” for now.

( euobserver.com )

I can’t even begin to state how bad I would consider the ramifications in the events of such a decision to be, and thankfully I don’t have to for now. Personally I find the Euro-zone to have a too great variation to have one common central bank and one common currency, not only due to the expansion to include new member countries, but the large budget deficits in some of the older member states as well.

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