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The rules today is that NEW members must join the Eurozone once they meet the economic convergence criteria.
IDK specifically about Sweden.
Denmark also keep our Danish crown, because we refused to adopt the Euro, despite we have one of the strongest economies in EU. We have an exception, kind of like UK did.
I think the reason could be that the sentiment in EU now is that they are a bit tired of UK making special demands. So they won't be given any slack.
But it's all a matter of politics, maybe they can make a deal, but the default is that it is required, and the political sentiment in EU currently is that UK needs to meet ALL requirements, and ALL 27 member states need to agree to give an exception to UK, which is probably deemed unlikely. It is not exactly set in stone, but it's close.
I know. I'm saying that that's the loophole: you can intentionally fail to meet the convergence criteria. You just don't join ERM II. That's how Sweden's avoiding taking the euro, it's how Hungary's avoiding it, it's how Poland's avoiding it, even Romania who joined in 2007 is avoiding taking the euro by simply not joining ERM II.
I respect that Denmark specifically negotiated for an opt-out instead of doing what these other countries did which was essentially agreeing to take the euro but crossing their fingers.
Maybe it's a loophole, IDK, it doesn't sound sustainable to have national debt just to avoid being a member of the Euro. Maybe Sweden will become a Euro member sometime in the future, but I'm fine with it being when they want to, and not being forced. But I still don't think UK will be cut the same amount of slack.
Personally I'd prefer to be part of the Euro, but this was a result of a vote on the Maastricht, and this is way way better than if we'd have to leave EU, which would be even more horrible for us than it was for UK.
We had a lot of EU skeptics when that was decided, but the tide has turned, there are no parties left out of 12 represented in parliament that oppose EU membership. UK cured that problem overnight.