Wednesday, April 16, 2025

Polaris of Enlightenment

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Northvolt files for bankruptcy: “Only available solution”

Published 12 March 2025
– By Editorial Staff
The parent company's liabilities are currently estimated at around €5.3 billion.

Struggling battery manufacturer Northvolt has filed for bankruptcy with the Stockholm District Court, putting its 3,500 employees at risk of losing their jobs.

“This is the only available solution”, the company stated, as the collapse is being described as one of the largest industrial failures in Swedish history.

For a long time, Northvolt was hailed by politicians, business leaders and the establishment media as a pioneering effort to bring about the “green transition” that those in power believe is necessary. However, it was never a success and after billions in losses, the threat of bankruptcy that has long hung over the company has also become a reality.

The decision to file for bankruptcy on Wednesday morning was taken at an extraordinary board meeting on Tuesday evening, and officials say there were simply no longer any realistic alternatives.

Despite having exhausted all available options to negotiate and implement a financial restructuring, including a Chapter 11 process in the US, and despite liquidity support from our lenders and key counterparties, the company was unable to secure the necessary financial conditions to continue in its current form”, they wrote in a press release.

– This is an incredibly difficult day for everyone at Northvolt. We set out to build something groundbreaking – to drive real change in the battery, electric vehicle and wider European industry and accelerate the transition to a green and sustainable future, commented interim chairman Tom Johnstone.

The bankruptcy affects Northvolt AB, Northvolt Ett AB, Northvolt Labs AB, Northvolt Revolt AB and Northvolt Systems AB.

“Dark day for all of us”

Today, the battery manufacturer has around 3,500 employees most of them based in Skellefteå, Västerås and Stockholm. All of them are now at risk of unemployment and analysts say that Norhtvolt’s bankruptcy is one of the worst single industrial crashes in the country’s history.

A bankruptcy trustee will be appointed by a Swedish court to manage the sale of the business and its assets. The parent company’s liabilities are currently estimated at around SEK 58 billion (€5.3 billion).

It is of course a heavy message and a very dark day for all of us who have worked hard every day and hoped that the company will get through this tough time, says Shaneika Jeffrey, Shaneika Jeffrey, vice chairman of the Unionen club at Northvolt Ett in Skellefteå.

It can further be noted that Northvolt Germany and Northvolt North America have not filed for bankruptcy.

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Moderate Youth League: Raise the retirement age to finance Sweden’s rearmament

The new cold war

Published yesterday 17:32
– By Editorial Staff
Raising the retirement age to fund the Swedish defense effort is not expected to be well received by the electorate.

As reported by The Nordic Times, Swedish politicians have decided to borrow at least SEK 300 billion (€26 billion) for what is described as the “biggest rearmament since the Cold War”.

Douglas Thor, chair of The Moderate Youth League (MUF), fully supports the military investment – but emphasizes that it should be paid for by older Swedes through a higher retirement age.

The governing politicians agree that it is reasonable to borrow the equivalent of €4,400 for each Swede of working age for the military project, and analysts have noted that it will largely be future generations of Swedes who will have to pay for the decisions made today.

– It’s clear that future generations will have to take a bigger hit than if we were to just go on this year’s budget. But it also seems reasonable that future generations should help finance reconstruction because it will also benefit them, commented, for example, Daniel Waldenström, professor of economics, and continued:

– It’s simply that they will have to pay a bit more tax as a result of this. They will have to pay taxes to finance our repayment of these loans.

“In the long run, everyone will pay”

Just like the other establishment parties’ youth wings, MUF applauds the military investment, but believes older Swedes must bear a greater share of the cost – not just the younger generation.

– Borrowing money is not free. The costs are postponed to the future, which means that the younger generation has to pay. We are happy to contribute, but it is unreasonable that we alone should bear the cost, they say.

Thor’s solution is to raise the age at which older people can start drawing their pension from the current 63 to 67.

– Today, people can start drawing their income and premium pensions at the age of 63. We believe it is reasonable to raise it. One possible age is 67, confirms the Muf leader, who states that raising the retirement age is a much better option than raising taxes.

– In the long run, everyone will pay because we are all getting older. When our country has faced difficult challenges in the past, we have coped by working more, Thor argues.

Unpopular measure

Raising the retirement age to fund military spending is not expected to be a particularly popular message with voters but Thor says this does not matter much.

– There are many issues that were previously unthinkable, but which have been reconsidered in this serious international situation. For example, loan financing has been reconsidered. It should be possible to do the same with regard to this issue.

According to Muf’s calculations, if older Swedes worked two years longer than they do today, this would mean around SEK 30 billion (€2.6 billion) extra to the public purse annually about half the contribution needed to meet the government’s target of spending 3.5% of GDP on defense.

Fewer Swedish women want to have children: “A societal change”

Population replacement in the West

Published yesterday 14:11
– By Editorial Staff
Birth rates across the Western world are at alarming levels

One in four young women now say they are unwilling or reluctant to have children in the future, while birth rates are at historically low levels.

Midwife and professor Tanja Tydén points out that there are things that society can do to try to get the birth rate going again, if only the political will exists.

The Nordic Times has previously highlighted the study from Uppsala University, which shows that only 75 percent of young women in Sweden today say they want to have children a sharp decline from 91 percent just ten years ago.

Of those who answered why they did not want children, most said they simply had no desire to become parents. Health reasons were the second most common reason and the third most common was that they valued their freedom more than having children. Economic reasons came fourth and the fifth most common reason given by women was concern about alleged climate change and overpopulation.

– It’s a societal change… There are far more people now than before who do not want to have children. A quarter of women say they are hesitant or don’t want to, explains Tanja Tydén, a midwife and professor at the Department of Women’s and Children’s Health at Uppsala University.

“Some are afraid of the climate threat”

She points out that only in the last decade has there been a sharp decline in the proportion of women who want to have children, and that there are several different explanations for why family formation is less popular today.

– Some say they simply don’t want children, others say they value their freedom, and some say they fear the threat of climate change.

– One group has said that the economy is driving this, she continues.

Although some of the factors are difficult to change politically, she points out that society and politicians can actually create incentives to increase childbearing for example, by making parental benefits more favorable for certain groups.

– When it comes to an issue like the economy. If you have studied for a long time and become pregnant at the end of your studies, you receive the absolute lowest parental benefit. Society has the opportunity to make a change here.

Same trend throughout the Western world

Last year, Statistics Sweden noted that the number of children born per woman in Sweden had fallen to 1.43 the lowest figure ever recorded in the country. In order to avoid a negative population trend, an average of around 2.1 children per woman is needed.

Instead of focusing on increasing birth rates, both center-right and center-left governments in Sweden have over the past decades prioritized immigration from the third world resulting in population growth despite declining native birth rates.

Sweden is not unique either with the same trend visible across the Western world, and in the EU as a whole, the birth rate in 2023 stood at 1.38 children per woman and significantly lower than that in countries like Spain, Italy and Poland.

Swedish government: Unprecedented economic turbulence ahead

Published yesterday 11:52
– By Editorial Staff
Elisabeth Svantesson during Tuesday's press conference.

Elisabeth Svantesson, the Moderate Party’s Minister for Finance, believes that Trump’s trade tariffs and the unrest they have caused will also affect the Swedish economy.

– We had good conditions for getting the economy going. But then this happened, which we’ve talked about a lot – the trade war has materialized, she emphasizes.

According to Svantesson, the Swedish economy was recovering at the end of 2024 but this recovery has now been interrupted, and the Americans are being blamed.

The finance minister says that confidence in the US has been badly damaged and will take a long time to rebuild and that the Trump administration’s actions have damaged both the US and European economies.

It is sad that one of Sweden’s partners, the United States, is acting in this way, she said:

– What we are experiencing now is unprecedented. We have a trade war at a time when markets are highly integrated.

“Higher costs for businesses and households”

Although the finance minister admits that the consequences of the trade war are difficult to determine in advance, she nevertheless maintains that Sweden remains strong “with world-class public finances” and the focus of the spring budget, according to Svantesson, is on getting “the wheels turning” through various economic measures such as increased tax deductions and increased funding for the Swedish Public Employment Service.

We don’t know all the consequences of the trade war yet, but we know that it is harmful… But with this budget we are protecting Sweden, and we are prepared to do more, she adds.

Despite the SEK 11.5 billion (€1 billion) in measures, unemployment is predicted to rise from 8.2% today to 8.6% by the end of the year, and inflation to 2.5%, from 1.9% previously.

The Ministry of Finance expects Sweden’s GDP to grow by 2.1% in 2025 lower than previous estimates. However, growth is expected to pick up in 2026 and 2027, according to the forecast, which may be revised in the future.

The announcement of increased import tariffs in the United States has caused turbulence in financial markets and sharp stock market declines. Higher tariffs are expected to lead to higher costs for businesses and households, which is expected to dampen demand. At the same time, increased uncertainty itself risks dampening economic activity as firms and households postpone investments, hiring and purchases”, the assessment says.

Mosque boom in Sweden: 4200% increase in 25 years

The Islamization of Europe

Published 14 April 2025
– By Editorial Staff
Gothenburg is home to one of Sweden's many mosques (archive image).

Sweden’s religious landscape has been transformed in a quarter of a century. While churches have been quietly closed, the number of mosques has skyrocketed by some 4,200 percent, Samnytt reports, based on data from the Swedish Agency for Aid to Religious Communities.

From a handful in 2000 to around 300 today, Muslim prayer rooms are spreading across the country. But behind the numbers lie issues of funding, influence and a rapidly changing society.

What is a mosque? The definition varies. Permanent places of worship with a minaret and dome count, but so do simple prayer rooms in basements and community halls.

The lack of clarity means that the actual number may be much higher, making an objective debate difficult. Nevertheless, the trend is clear: mosques are growing in number and their role is becoming increasingly controversial.

Fear of the topic

In Vasastan in central Stockholm, for example, the Masjid Aysha mosque has grown into a central meeting place for many Muslims, and in Helsingborg, a large-scale mosque is currently being planned, financed by international fundraising.

In Skärholmen, a project is underway aiming to create Northern Europe’s largest Muslim center, backed by millions of kronor from foreign donors. But the mosques are not just spiritual spaces. they are also symbols of a development that, according to critics, raises concern.

Moské Malmö
One of Malmö’s many mosques. Photo: Johan Wessman/News Oresund

The construction projects testify to ambition but also to a growing dependency that few dare to scrutinize. There are many indications that countries such as Saudi Arabia, Qatar and Turkey are pumping money into Swedish mosques.

Samnytt’s report suggests that some regimes see prayer rooms as tools for spreading ideological messages.

Critics warn that foreign influence can fuel polarization and, in the worst cases, radicalization, while mosque representatives instead emphasize a role as bridge builders in the local community.

The climate of debate is further complicated by the fear of being labeled Islamophobic. Those who question the mosque boom are often met with harsh words, which can silence legitimate concerns about integration and security.

Christian meeting places are declining

Internationally, Sweden is not alone. In France, for example, laws against “Islamic separatism” have made headlines, while the UK is struggling to balance religious freedom and security.

In Sweden, however, there is often no basis for even having the conversation. Official statistics on mosques are scarce, and funding flows remain shrouded in mystery.

In parallel with the mosque boom, Christian spaces are shrinking. For example, the Church of Sweden has closed dozens of churches in recent decades. This contrasts with the rise of the new minarets.

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