Talking Points – SWEDISH ELECTIONS, KRONA, EURO, EU
- Populist nationalism rising across most of Europe
- Eurosceptic Swedish Democrats gaining popularity
- Krona, Euro[1] may drop on Sweden election outcome
POPULIST Nationalism GROWS in Europe
The recent emergence of populist nationalism across Europe has shaken the world’s perception of European unity and stability. Many eurosceptic parties and movements have rejected the idea of a unified European identity. Instead, nationalists are generally focused on preserving their own nation’s ethnic character and economic sovereignty.
A key factor driving European nationalism has been the issue of immigration. In 2015, the European migrant crisis strained the economies of EU member states when over 1 million refugees came to seek asylum. Despite the EU’s effort to implement a uniform asylum policy in 2005, the uneven infrastructural development across Europe’s economic terrain prevented it.
This comes on top of growing discontent with the EU’s structural and institutional shortcomings. Many EU member states are expressing frustration with EU policymakers that they believe are instituting laws compromising their nation’s economic and social cohesion. More policy independence on border controls has been one of the biggest grievances.
Amid the discontent, nationalist parties began to emerge and rise in popularity. Their platforms favoring tighter borders and steeped in eurosceptic rhetoric became a lightning rod for populists. The upcoming Swedish elections and the rise of the nationalist Sweden Democrats (SD) party is part of this broader trend.
SWEDISH ELECTION THREATENS MARKETS
Swedes are due at the polls on September 9th. The current government is run by the Social Democrats, the largest and most popular party in Sweden for well over five decades.
