Wednesday, September 10, 2025

Polaris of Enlightenment

Sweden set for EU’s weakest growth in 2024

Published 23 February 2024
– By Editorial Staff
EU economic affairs commissioner Paolo Gentiloni says the outlook for the first quarter of 2024 remains subdued.
2 minute read

Sweden is predicted to have the weakest growth in the entire EU area in 2024, with a forecast of 0.2 percent growth, while the entire Union’s growth is estimated at 0.9 percent.

The EU’s winter economic forecast has adjusted downwards the growth expectations for the entire Union during the year. In 2024, growth is expected to reach 0.9%, although in November last year it was predicted to be 1.3% instead. The Commission points to the decline in household purchasing power, the fall in global demand for goods from EU countries, the increase in key interest rates and the withdrawal of the support measures put in place during the coronavirus and energy crises in 2023.

– The latest data confirm that the EU economy will barely expand in 2023 and the outlook for the first quarter of 2024 remains subdued, said EU Economy Commissioner Paolo Gentiloni, according to Europa portal.

Uncertain future

Sweden is one of the few member states whose GDP forecast has actually been adjusted upwards. However, since the forecast is for an increase of only 0.2 percent, this means that it is still the lowest forecast. Growth in Sweden is believed to be driven mainly by households regaining purchasing power due to, among other things, lower interest rates. However, there is a risk that the forecast will be even worse than expected, says Gentiloni.

– Unfortunately, the future economic outlook is subject to considerable uncertainty, not least because of Russia’s ongoing war with Ukraine and rising tensions in the Middle East, he says.

The country with the second lowest forecast is Germany with 0.3% potential growth. Followed by the Netherlands with 0.4% and then Finland with 0.6%. Malta is expected to have the highest growth among EU countries with 4.6%.

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Putin’s advisor: The US is conspiring with crypto and gold

Published today 9:02
– By Editorial Staff
Governments and central banks worldwide are closely monitoring how the United States plans to approach cryptocurrencies.
2 minute read

A Russian presidential advisor is convinced that the US is planning to exploit cryptocurrencies and gold to erase large portions of the country’s $35 trillion national debt.

Anton Kobyakov, senior advisor to President Vladimir Putin, made the accusations during the Eastern Economic Forum in Vladivostok – an event aimed at attracting foreign investment to Russia’s Far East region.

Kobyakov directed sharp criticism at what he describes as Washington’s attempts to manipulate global financial markets.

— The US is now trying to rewrite the rules of the gold and cryptocurrency markets. Remember the size of their debt, 35 trillion dollars. These two sectors are essentially alternatives to the traditional global currency system, Kobyakov said in his address.

— Washington’s actions in this area clearly highlight one of its main goals to urgently address the declining trust in the dollar, he continued.

The US national debt has now surpassed $35 trillion – the largest in the world. The sum consists of the federal government’s total debt to various creditors: foreign governments, institutional investors, and American citizens holding government bonds.

The debt has accumulated over several decades through budget deficits, extensive stimulus packages, high military spending, and costs for social programs such as Social Security and Medicare.

Converting national debt to “stablecoins”?

Kobyakov suggests that the US plan involves converting parts of the national debt to so-called stablecoins – cryptocurrencies pegged to traditional currencies. Through this, the debt could in practice be devalued, which he describes as “starting over from scratch”.

The Russian advisor warns that such a strategy could have serious consequences for global economic stability.

The statements come amid an intense international debate about the future role of digital currencies in the global financial system. How the US will approach cryptocurrencies – and what it means for the dollar’s role as the world’s reserve currency – is being closely watched by governments and central banks around the world.

Trump threatens new tariffs in retaliation for “discriminatory” tech taxes

Donald Trump's USA

Published 26 August 2025
– By Editorial Staff
President Trump defends Meta, Google and Amazon against foreign taxes and threatens US countermeasures.
2 minute read

Donald Trump warns of new tariffs and export controls against countries that he claims “discriminate” against American tech giants. The statement could escalate trade conflicts with both the United Kingdom and the EU.

In a post on his Truth Social platform on Monday evening, the president launched a harsh attack against “digital taxes, legislation, rules or regulations” and claimed that as president he intends to defend American companies against what he described as malicious attacks.

“As the President of the United States, I will stand up to Countries that attack our incredible American Tech Companies. Digital Taxes, Digital Services Legislation and Digital Markets Regulations are all designed to harm, or discriminate against, American Technology”, Trump wrote.

“They also, outrageously, give a complete pass to China’s largest Tech Companies. This must end, and end NOW!” he continued.

True to form, Trump uses his own social media platform to tell the world about his plans. Photo: facsimile/Donald Trump/Truth Social

According to analysts, the statement risks further deteriorating trade relations between the US, the United Kingdom and the EU.

“Flagrant attack”

Washington has long criticized the UK’s digital services tax, which despite American criticism was retained after an agreement with Trump’s previous administration. The US has also directed harsh criticism at the EU’s Digital Services Act, which places higher demands on large tech companies to control content on their platforms.

Several EU countries, including France, Italy and Spain, have had their own taxes of similar nature since before, reports Financial Times.

In June, Canada chose to scrap its digital services tax to pave the way for trade negotiations with the US. Trump had previously described the tax as a “direct and flagrant” attack. The British also considered changes to their tax, but ultimately managed to reach a trade agreement without making changes.

In the UK’s case, the tax is 2 percent and applies to companies like Alphabet, Meta and Amazon. It affects companies with global revenues over £500 million and is levied on parts of turnover exceeding £25 million in the country.

Swedes to cover Ukraine’s budget deficit

The war in Ukraine

Published 26 August 2025
– By Editorial Staff
Swedish Prime Minister Ulf Kristersson's government has long emphasized that continued support for Ukraine is Sweden's highest foreign policy priority.
3 minute read

Sweden opens its wallet once again for Ukraine as the government sends an additional €67 million directly to the Ukrainian state budget – money that Kiev can use freely to cover its growing budget deficit.

Sweden thereby becomes the first EU country to provide this type of direct support.

The decision was made by the Swedish government on Thursday and means that Swedish taxpayers will now finance the Ukrainian state treasury’s ongoing expenses. This comes in addition to the approximately €9 billion that Sweden has already sent to Ukraine since 2022.

In 2025 alone, Sweden plans to provide at least €4.3 billion in civilian and military aid to Ukraine – equivalent to 0.76 percent of Sweden’s GDP. To this is now added an additional €67 million in direct budget support.

Swedish Foreign Trade Minister Benjamin Dousa defends the extensive contributions and wants to see more European countries follow Sweden’s example, especially after the US has reduced its support.

— We will stand behind Ukraine through thick and thin for as long as needed, he promises in Schibsted-owned TV4 News.

Must not go to corruption

The new budget support will be channeled through the EU’s so-called Ukraine Facility, but Ukrainian authorities can decide for themselves how the €67 million should be used. According to Dousa, Sweden sets certain requirements, but the government does not want to go into details about these.

— We will always ensure that the money does not go to corruption and that Ukraine takes the reforms they are currently pursuing seriously and continues to become even more democratic and move even closer to the EU, the minister claims.

Dousa explains that Ukraine’s economic situation is under severe pressure after three years of war and describes the situation for next year as “very strained”, especially since American support has decreased.

— The economic situation, especially for next year, is very strained given that the US has withdrawn. Then we must be more countries that now step up and do even more for Ukraine. Partly this is an important signal to the rest of Europe to step up more, but also to Ukraine, the minister continues.

References Sweden’s security

The Swedish development aid minister claims that it is in Sweden’s own security interest to continue pumping billions into Ukraine. He repeats the mantra that “Ukraine is not only defending its own independence and freedom but all of Europe’s”.

— A Russian tank that is eliminated by Ukraine is one less tank that can drive into the Baltics, Finland or even into Sweden, he claims.

With the latest addition, Sweden’s total support to Ukraine approaches the €9 billion mark – a sum that will now grow further as Swedish tax money goes directly to covering holes in Kiev’s state budget.

The combined Western support to Ukraine approaches €360 billion since the war began. Despite the massive sums, Ukraine has not managed to achieve the military successes hoped for. At the same time as more and more voices now openly advocate diplomatic solutions and swift peace negotiations, both economic contributions and arms deliveries from the West continue.

Swedish postal service halts US deliveries amid regulatory uncertainty

Published 24 August 2025
– By Editorial Staff
Private individuals can still send gifts up to 100 dollars duty-free.
2 minute read

Package shipments from Sweden to the USA have now been stopped. PostNord, Sweden’s postal service, has been waiting for information from US customs authorities for almost two months – but for now deliveries are paused and packages are being returned to senders.

The decision follows the US’s tightened customs rules introduced this summer. The previous $800 limit for duty-free goods has been abolished for commercial shipments, but the exact rules for how packages should be handled remain unclear.

— This is worldwide and affects all countries. For PostNord, a smaller portion of our volumes is affected, but it is of course very important for those customers who previously sent goods duty-free, says Björn Bergman, communications director at the PostNord Group, to Swedish public broadcaster SVT.

According to Bergman, it is primarily small and medium-sized e-commerce companies that are affected by the halt. For private individuals there is an exception – they can still send gifts up to $100 duty-free.

PostNord does not want to specify how many shipments are affected by the decision.

— But every shipment is important for customers and consumers, of course, Bergman continues.

No information

The reason for pausing shipments is to avoid unnecessary transport. Without clear customs procedures, packages risk being sent back across the Atlantic immediately upon arrival.

It remains unclear when deliveries will resume.

PostNord has requested information from US authorities since June 30, but important details about the new customs procedures are still missing.

— We are working very closely with all postal operators in Europe to get all information from the US authorities about how we should clear customs. This is information we have requested since June 30, but we haven’t received the complete picture yet, explains the communications director.

Regular letter shipments without goods are not affected by the decision, nor are packages sent from the USA to Sweden.

Several postal companies follow suit

In addition to PostNord, Bring and DHL have also announced temporary halts for package deliveries to the USA.

According to Matilda Adelborg, press manager for Bring in Sweden and Denmark, no Nordic country is sending packages under the $800 limit to the USA because functioning solutions are lacking.

“Postal companies around the world are waiting for important clarifications from the customs authority in the USA, so that they can develop and implement the solutions required”, she writes in a comment.

DHL states in a press release that the new customs regulations come from the Trump administration and that postal companies from Scandinavia, Austria and Belgium have also paused their deliveries to the USA.

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