Sweden now helms the EU Council presidency. Here are its priorities

For the third time since becoming a member of the European Union, Sweden is taking on the rotating presidency of the EU Council, one of many bloc’s co-legislators.

For the subsequent six months, the Nordic nation will likely be tasked with setting the political agenda and steering the controversy amongst member states, a tough job that has grow to be even more durable within the midst of multiplying crises.

The brand new right-wing coalition authorities, made up of three events and led by Prime Minister Ulf Kristersson, has promised to uphold the bloc’s basic rights and keep the political unity solid within the wake of Russia’s invasion of Ukraine.

However the help the far-right Sweden Democrats are lending to the minority coalition has solid a shadow over the presidency’s inauguration, with specialists and diplomats questioning how a lot the Eurosceptic social gathering will make its presence felt on the EU stage.

Stockholm insists the Sweden Democrats will not be a part of the federal government and the confidence-and-supply settlement focuses on home issues, not EU coverage.

“The Swedish Presidency will likely be an energetic one, and can supply constructive management to deepen the EU’s strengths and discover compromises,” Kristersson instructed the nationwide parliament, the Riksdag, final month whereas presenting his authorities’s programme.

“We’ll safeguard widespread European pursuits, and be humble within the face of the member states’ variety.”

Among the many many challenges and predicaments besetting the bloc, Sweden has chosen 4 overarching subjects as the primary priorities for its six-month presidency: safety, competitiveness, vitality and democratic values. 

On safety, Stockholm needs to make sure EU nations hold intact –  and even step up – the financial and navy help for Ukraine. Brussels is below stress to make good on its guarantees after having did not ship all the €9-billion envelope of monetary assist that was promised to Kyiv in 2022.

For 2023, the EU is predicted to disburse €18 billion frequently, cash that’s important to cowl Ukraine’s ballooning finances deficit and maintain essentially the most primary public companies.

On prime of that, Sweden will lead the dialogue on the intricate query of confiscation: the EU intends to promote and re-invest the Russian-owned belongings which were frozen throughout 9 rounds of sanctions to be able to elevate further funds for the reconstruction of Ukraine.

However the concept, which may doubtlessly goal the €300 billion of worldwide reserves held by the Russian Central Financial institution, is deeply advanced and faces a myriad of authorized and sensible obstacles.

Competitiveness can even characteristic excessive on Sweden’s agenda.

The necessity to protect Europe as a pretty vacation spot for overseas funding has acquired an virtually existential dimension after US President Joe Biden signed the Inflation Discount Act, which is about to inject inexperienced subsidies to the tune of $369 billion (€349 billion) into the American economic system.

The act, which favours American-made merchandise, has been met with sturdy condemnation in Europe and raised fears of a transatlantic commerce struggle.

Some EU leaders, comparable to French President Emmanuel Macron and Italian Prime Minister Giorgia Meloni, are pushing for a powerful countermove and demand a overview of the bloc’s decades-long state assist guidelines, which are supposed to guarantee truthful competitors between small and large member states.

Sweden, a staunch advocate totally free markets, has taken a extra cautious method to the hot-button concern.

“Protectionism will not be the way in which to go. It wasn’t yesterday, and it will not be tomorrow – on this aspect of the Atlantic or the opposite,” Kristersson instructed the Riksdag.

“We all know that modern corporations in a free and open market not solely generate progress and welfare, but in addition lead the inexperienced and digital transitions,” he added. “However in reality, the EU is lagging behind. Clear competitors coverage and higher laws for European trade are due to this fact essential.”

Watch the video above to be taught extra about Sweden’s political priorities.