Denmark has dethroned Norway and Sweden by pegging it to the euro, a currency that has reached a record high.
Currently, you have to spend 11.62 Swedish krona and 11.89 Norwegian krona for one euro.
It’s time to rethink, chief economist Jan Ludwig Andreessen at the ICA Group tells Netafsen:
The only thing that makes sense in the long term is to abandon the krone in favor of the euro. I’m convinced we’re headed in that direction, says the “zero-interest cheerleader,” as he likes to call himself.
– The fate of the Norwegian krone is that we must follow the Danish monetary policy in the long term.
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-We have to get by without the code on the bill
-What is the realistic time horizon?
– When Sweden enters, Norway will follow, he answers quickly.
Norwegians should be able to live without the cod symbol on banknotes, while there are plenty of other benefits from changing the regime, he says.
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-We were played like a complete king
Over the past two years or so, Norges Bank has been raising its interest rate from zero to 4.25 per cent in order to beat inflation – but without success.
– This has been a big experience, where we lose as a small and weak currency. “Checkmate” has been played, says Andreessen, who explains it this way:
Norway is a very rich country, with clearly higher market interest rates in Europe and a trade surplus. He says: We now need a new currency system, for the following reasons:
– Rising interest rates at Norges Bank have had little impact on the krone exchange rate, while business is bleeding. Investments are falling, says chief economist, who warns of the interest rate rise that “everyone” now believes will come on December 14.
According to the highest Eika, it is not technically difficult to achieve transformation. He hopes that this matter will be investigated quietly by the financial authorities.
– Father closes his eyes
Andreessen believes Norway could be ready as early as January 1, 2026, if required.
– But politically there are great doubts about EU membership?
– Yes, there is a little shortage there. The Workers’ Party (Ap) prefers not to talk about this issue, because there are too many internal disputes, and the Center Party (Sp) wants national autonomy, but more and more people are retreating.
The IKEA Summit believes that the advantage to Norwegians of having the euro in hand is enormous:
– It will increase trade with the EU, make it easier for foreigners to buy property here, and make your holiday in the south much easier and cheaper, to name a few.
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Political scientist and long-time EU enthusiast Pál Frisvold (MDG) also speaks about the Danish model:
– It has concluded an agreement with the European Central Bank (ESB) according to which the euro and the Danish krone must follow each other. Frisvold said in March that if there was pressure on the Danish krone, the ECB would buy Danish krone on the market to stabilize the Danish krone exchange rate.
Andreessen believes that a similar solution could easily be applied to Norway. Frisold believes it is worth noting that:
– The transition from selling oil and gas, for example, to wind energy with much lower profit margins, could mean a painful treatment if we do not provide the good and stable framework conditions where the krone exchange rate plays a role.
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– It could end up in Romania or Bulgaria
In Sweden, the debate is also taking place loudly:
-I have long ago given up the Swedish krona. Christer said the euro was completely dominant Gardell at Swedish investment firm Civian Capital for DI’s podcast “Børsmorgon” this summer.
According to Jardel, if they don’t take action, they will be heading towards the abyss:
– We now have a choice between switching to the euro or becoming poorer and poorer. He warned that we may soon end up like Romania or Bulgaria.
Joining the euro requires a majority vote in a referendum to say “yes.” In 2003, 50% said “no” and 30% said “yes.”
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