Denmark and European monetary integration: Out but far from over

Abstract:

Denmark is not likely to introduce the European single currency in the foreseeable future. At present, Danish politicians and the country's population do not consider the issue of the euro to be of primary importance for the development of the Danish society and polity. Despite (or maybe because of) the fact that the country is a euro-outsider it is performing quite well economically and politically. Thus, Denmark may be an 'out' country but it is definitely not 'over' and done with as regards European monetary integration. Furthermore, the present situation is not historically unprecedented since Danish monetary authorities have traditionally not been used to having monetary sovereignty to any significant extent. This implies that Danish policymakers have found a number of indirect means to influence monetary policy-making in the euro-area.