Political crossroads ahead in Sweden: The signs are red-green. EPIN Commentary No. 20, 31 July 2014

The political balance in Sweden was upset in this year’s elections to the European Parliament (EP). The far-right ‘Sweden Democrats’ almost tripled their vote-share and the Greens gained enough votes to become the second-largest Swedish party in the EP after the Social Democrats. Support for the current government incumbents, the Moderates, fell beyond expectation. The party will not recover in time for the national elections in September, whereas both the Greens and the Sweden Democrats are likely to repeat their EP election success. Since the Sweden Democrats are unlikely to form part of the coalition government – the election-winners will be the Greens and Social Democrats – Sweden’s political landscape is set to undergo a shift to the left.

Should the ‘outs’ join the European banking union? Bruegel Policy Contribution Issue 2016/03 February 2016

For political reasons, European Union member states’ opinions on joining banking union range from outright refusal to active consideration. The main stance is to wait and see how the banking union develops. The wait-and-see positions are often motivated by the consideration that joining banking union might imply joining the euro. However, in the long term, banking union’s ultimate rationale is linked to cross-border banking in the single market, which goes beyond the single currency. This Policy Contribution documents the banking linkages between the nine ‘outs’ and 19 ‘ins’ of the banking union. We find that some of the major banks based in Sweden and Denmark have substantial banking claims across the Nordic and Baltic regions. We also find large banking claims from banks based in the banking union on central and eastern Europe. The United Kingdom has a special position, with London as both a global and European financial centre. We find that the out countries could profit from joining banking union, because it would provide a stable arrangement for managing financial stability. Banking union allows for an integrated approach towards supervision (avoiding ring fencing of activities and therefore a higher cost of funding) and resolution (avoiding coordination failure). On the other hand, countries can preserve sovereignty over their banking systems outside the banking union.

Die EU-Volksabstimmungen in Österreich, Finnland, Schweden und Norwegen. Verlauf, Ergebnisse Motive und Folgen = The EU referendums in Austria, Finland, Sweden and Norway. Results, motives and consequences. Institute for Advanced Studies Political Science Series No. 23, 1995

This paper analysis the 1994 EU referenda in Austria, Finland, Sweden and Norway in a comparative perspective. It shows that the results were, to some extent at least, related to how pronounced the respective elite consensus was on the necessity or desirability of EU membership. It also shows that in all cases the main motivation of the Yes voters was economic. The paper goes on to analyse the regional and social variations in voting patterns. In the concluding chapter some of the medium- and longterm effects of the referenda debates and results on Austrian, Finnish and Swedish government policy within the EU are outlined.