Sweden needs stabilising tool for euro entry-union

SWEDEN - Swedish membership of the euro is not desirable unless there is a tool to stabilise the economy which would compensate for the loss of national monetary policy, the country's biggest trade union group said on 10 July.

Sweden, unlike fellow single currency outsiders Britain and Denmark, has no formal opt-out from joining the third phase of the EU's Economic and Monetary Union (EMU) but has remained on the sidelines nonetheless.

Sweden's ruling Social Democrats (SDP) adopted at a party c

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