Reinfeldt delays decision on the Euro Pact

4:57 min

A majority in the Swedish Parliament is opposed to Sweden joining the new fiscal union pact that the 17 euro-zone members agreed to in Brussels last week. But Prime Minister Fredrik Reinfeldt said again in the Riskdag today that he wants to wait to decide.

"We still don't know what commitments non euro-zone countries would have if we joined the agreement," Reinfeldt said. "My principle is usually that it's good to know exactly what we're talking about."

The intergovernmental agreement would coordinate the 17 euro-zone countries' economic policies and strengthen sanctions and rules to discourage countries from mismanaging their finances. Budget requirements would be written into law.

The ten countries in the EU that are not part of the euro have until March to say whether they want to join. Great Britain has already said no.

In Sweden, the leader of the Liberal Party, Jan Björklund, wrote a debate article today arguing that Sweden should join the Euro Pact. Social Democrat party leader Håkan Juholt repeated again his opposition to joining the pact. "I don't see any reason why Sweden should put itself in this straight jacket," Juholt said.

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