Denmark Rejects Single European CurrencyDenmark rejected the euro in a historic referendum Sept.28, with opponents of the single currency saying the vote was a snub to Europe's elite.With 96 percent of the votes counted, the anti-euro no vote was put at 53.1 percent against 46.9 percent for a yes. The result is likely to dent confidence in the beleaguered single currency and could reshape Europe's political landscape. But European Union leaders and monetary chiefs were quick to dismiss the impact of the referendum. French Prime Minister Lionel Jospin said Denmark was a small nation and a no” result posed no problem for the euro. The euro fell below 87.80 cents as the no” count stacked up, but economists said the currency's downside was limited by the threat of central bank intervention. For the second time in less than a decade, one of Europe's smallest, richest, but fiercely independent nations had thumbed its nose at those trying to drive the EU toward closer integration. Jubilant anti-euro campaigners heralded a win, while somber government ministers, who had fought hard to make Denmark the 13th member of the euro zone, warned the result could split Europe in two. This is a great victory for the Danish people and a snub to the elite,said Pia Kjaersgaard, leader of the far-right, anti-euro Danish People's Party. |
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