Swedish Prime Minister Goran Persson said Swedes should vote Yes in a forthcoming referendum on joining the euro to help counterbalance the economic supremacy of the United States.
"The fact that we are cooperating against currency speculators (by dealing in only one currency) does not mean that we are entering a superstate. It means that we are putting a halt to the emerging superstate, which is controlled by the multinational companies," Persson said.
"I am a radical, I want a counterbalance to the global capital which we lack today and for that purpose we should use and develop the EU to the best of our abilities," he said in a speech in the heavy industry town of Skelleftea almost 1,000 km north of Stockholm.
Persson is trying hard to persuade Swedes to vote to join the euro in their September 14 referendum but the pro-euro lobby is far behind in opinion polls. However, two surveys showed a slightly narrower lead for opponents, suggesting, say political analysts, that the tide may be turning.
And pollsters estimate that between one fifth and 40 per cent of the seven million electorate are still undecided on the issue five weeks ahead of the referendum.
In his speech in Skelleftea, Persson reiterated his theme that Sweden, by adopting the euro, would ensure lower interest rates and thereby lower housing costs and more investment and jobs.
The ex-communist opposition Left Party launched its anti-euro campaign in a working class Stockholm suburb on Saturday. Party leaders outlined a door-to-door effort relying on volunteers and legwork rather than expensive advertising.
"Our campaign is more about democracy (than the economy)...our right not to give away our democracy and power to decide our economic policy. And we are worried about what will happen to the welfare system," acting party leader Ulla Hoffman told Reuters.
Jonas Sjostedt, a European Parliament member for the Left Party, said the "No" side had about 60 million crowns ($7.4 million) at its disposal.
He estimated that the "Yes" camp, which is sponsored by Sweden's business establishment and has declined to disclose how much money it will spend, had at least 10 times more funds.