Kit Juckes of Societe Generale in France stated in a report on February 25th that given the weak economic outlook in the UK and the potential boost to the Swedish economy from increased defense spending, shorting the British pound against the Swedish krona is an attractive trade. The UK's economic prospects have recently weakened and may deteriorate further. Meanwhile, as Sweden has long been an arms exporting country, the krona may appreciate if Europe takes on more responsibility for its own security. The share of the defense industry in Sweden's GDP is significantly higher than in most economies.