Ten years after the Brexit referendum, only a third of Brits believe that leaving the EU was the right decision. Among young people in particular, support for rejoining the European Union is strong.
Nothing is guaranteed, but the official standpoint from EU is that UK will NOT get a special deal. And participation in the Euro is the default.
So UK will technically be obligated to join the Euro.
Sweden came in under other terms back in 1995, much has changed since, and such exceptions will not be likely to be accepted today.
I don’t think Hungary is using a loophole, seems more likely that Hungary doesn’t qualify for the Euro ATM.
Much the same way there were speculations that Greece might have to leave the Euro.
The Euro can be mandatory for new member states without being mandatory for existing members.
If UK had remained in the EU, they would have kept ALL their special arrangements without problems.
Sweden doesn’t qualify for the euro either. That’s the loophole. They’re failing the qualification criteria on purpose, because (they argue) joining ERM II is optional.
Nothing is guaranteed, but the official standpoint from EU is that UK will NOT get a special deal. And participation in the Euro is the default.
So UK will technically be obligated to join the Euro.
Sweden came in under other terms back in 1995, much has changed since, and such exceptions will not be likely to be accepted today.
Hungary joined in 2004 and is using the same loophole. I’ve seen or heard nothing to suggest that the loophole has ever been done away with.
I don’t think Hungary is using a loophole, seems more likely that Hungary doesn’t qualify for the Euro ATM.
Much the same way there were speculations that Greece might have to leave the Euro.
The Euro can be mandatory for new member states without being mandatory for existing members.
If UK had remained in the EU, they would have kept ALL their special arrangements without problems.
Sweden doesn’t qualify for the euro either. That’s the loophole. They’re failing the qualification criteria on purpose, because (they argue) joining ERM II is optional.