Although Sweden, unlike the United Kingdom and Denmark, does not have an opt-out authorising it to remain outside the Euro zone even if it were to meet all the convergence criteria, the country's Minister for External Trade, Leif Pagrotsky, has insisted that a "political agreement", secured in the course of accession negotiations in 1994, would permit Sweden not to comply with the letter of the Treaty regarding Economic and Monetary Union.

Official European Commission sources deny the existence