Swedish minister’s euro warning

Giving the keynote address at last week’s ACI congress in Sweden on Thursday morning, he warned that Sweden is likely to suffer economic and political consequences as a result of the no-vote in the euro referendum. He said: "I regret the decision to stay outside the euro because it will make us more vulnerable, especially when our Baltic state neighbours and Poland join the single unit."

He added that not being a member of the euro has already had an impact on Sweden’s ability to influence the debate in Europe. He said: "We have to come in at the end of meetings, which is a bit like coming to a party where all the guests have left and the house is being cleared up."

Nuder discussed the currency speculation in the early 1990s and said it was the fault of the Swedish government rather than currency traders. However, he added that the recent strength and stability of the krona was due to a strong and stable economy. He said: "Not since the 1960s have exports been so strong, and consumption growth is at its highest since the 1970s."