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The Nordic Times

Polaris of Enlightenment

The Nordic Times

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This article was published 1 year ago

https://nordictimes.com/the-nordics/sweden/report-most-swedes-use-loans-or-leasing-for-car-purchases/

Sweden

Report: Most Swedes use loans or leasing for car purchases

Welfare collapse

Published September 26, 2024 – By Editorial staff
1 minute read
Editorial staff
editorial@nordictimes.com

A new report reveals that the majority of Swedes rely on loans or private leasing to finance new or electric car purchases, with fewer than one in three buyers covering the cost independently.

In the first eight months of this year, 44% of Swedes who bought a new car chose private leasing, a slight decrease from 47% in the previous year. At the same time, 28% opted for car loans with the vehicle as collateral through finance companies, up from 24% in 2023.

Financing for electric cars, either through private leasing or car loans, has risen from 29% to 32%, according to the report Bilfinanshjulet, produced by Volkswagen Financial Services Sweden.

“Private leasing continues to be a strong choice among customers. It offers a way to drive a new, modern vehicle, such as an electric car, without the need for a loan or the personal risk of depreciation. What’s particularly interesting is the renewed increase in electric car leasing among private customers. As a car finance company, we see it as vital to support the transition to a greener Swedish car fleet", said Patrik Lindroth, CEO of Volkswagen Financial Services Sweden, in a press release.

According to the report, only about one in three Swedes finances their car purchases with savings or through non-vehicle collateral loans.

Private leasing remains most popular among individuals born in the 1940s, 1990s, and especially those born in the 2000s.

Editorial staff
editorial@nordictimes.com

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https://nordictimes.com/world/eu-taxpayers-have-paid-over-e180-billion-to-ukraine/

World

EU taxpayers have paid over €180 billion to Ukraine

Welfare collapse

Published yesterday 9:50 am – By Editorial staff
Archive photo.
3 minute read
Editorial staff
editorial@nordictimes.com

The EU has so far approved more than €180 billion in economic support to Ukraine since the Russian invasion in 2022. Recently, an additional package worth approximately €6 billion was approved, while Ukrainian President Volodymyr Zelenskyy continues to demand increased grants and loans.

Last week, the European Commission approved almost six billion euros in new support to Ukraine.

The amount consists of €4.1 billion in a macro-financial assistance (MFA) loan and €1.8 billion in a support package, a large part of which consists of grants.

With this disbursement, the EU's total support to Ukraine now exceeds an astronomical €180 billion. In addition, there is military and financial support from other Western countries, not least the United States.

Zelenskyy demands more money

The day before the EU's decision, Ukrainian President Volodymyr Zelensky was interviewed by Bloomberg. He emphasized the need for additional financing.

– We must find other alternatives. It is a question of our survival. That is why we really need it. And I count on our partners, Zelenskyy said.

In the same interview, he hinted that Ukraine hopes to gain access to frozen Russian assets in the EU, where a loan worth over €140 billion is being considered.

The Russian funds are held, among other places, at the securities depository Euroclear in Belgium. However, Belgian authorities and the company oppose the use of the assets.

– There are at least as many frozen assets in the rest of the world. It's a bit frustrating that everyone is pointing at us, Belgian Prime Minister Bart De Wever told HLN, a Belgian news outlet.

De Wever has so far blocked proposals for seizure and emphasizes the risk that Belgian taxpayers could be forced to compensate Russia if there is no legal basis.

Ukraine in difficult military situation

The Ukrainian president admits, however, that the war is going hard for Ukraine and that the strategically important city of Pokrovsk, among others, is under heavy pressure. He emphasizes, however, that defense decisions are left to Ukrainian commanders.

– No one is forcing them to die for some ruins, he reportedly commented on the military chain of command.

Volodymyr Zelensky believes that Russia wants Ukraine to give up the rest of Donetsk Oblast, including the cities of Kramatorsk and Sloviansk, and that the country is then prepared to end the war.

According to him, it has therefore become important for Russian President Vladimir Putin to conquer Pokrovsk in particular. Thereby showing the US and Donald Trump that Ukraine cannot win the war and that the only possibility for peace is to agree to Russian demands.

Demands that Zelenskyy stubbornly refuses to accept.

– We cannot leave eastern Ukraine. No one will understand that. People will not understand it. And most importantly, no one can guarantee us that if they get this or that city, they won't continue afterward. We have no deterrent, Volodymyr Zelensky says.

Editorial staff
editorial@nordictimes.com

https://nordictimes.com/the-nordics/sweden/save-the-children-one-in-eight-children-in-sweden-lives-in-poverty/

Sweden

Save the Children: One in eight children in Sweden lives in poverty

Welfare collapse

Published October 22, 2025 – By Editorial staff
Single parents face particular difficulties making ends meet, the report shows.
2 minute read
Editorial staff
editorial@nordictimes.com

One in eight children in Sweden currently lives in poverty, and the number is increasing in line with rising living costs, according to a new report from Save the Children Sweden.

According to recent figures from the children's rights organization Save the Children, approximately 276,000 children in Sweden live in poverty, representing nearly 13 percent of all children in the country. This is revealed in the report "Child Poverty in Sweden 2025" which was presented during the week.

The report is based on new metrics from the Swedish Consumer Agency's calculations of families' basic needs and includes the number of children in households receiving social assistance. The aim is to better reflect the reality for children in economically vulnerable households.

— The development has made it difficult for families with children who already lacked or had small margins to make ends meet. Save the Children has noticed increased vulnerability among families with children we meet in our operations, says the organization's Secretary General Åsa Regnér in a press release.

Stock image. Photo: Pixabay

Rising living costs and declining real wages

Save the Children highlights several factors in the report that explain the increasing economic vulnerability among families with children. Among the primary causes are sharply rising living costs, particularly for food and housing, as well as unemployment and declining real wages.

Additionally, the report reveals clear differences between various groups in society. Children living with single parents or in households with foreign-born parents face a significantly higher risk of experiencing poverty.

The organization calls for several national reforms to reverse the trend. Among the proposals are previously suggested increases to child and housing benefits, as well as social assistance that is indexed to actual costs rather than just referring to general levels.

– Social assistance must cover food, rent and children's basic needs, and therefore it needs to be adapted to economic changes and the real costs of families with children, argues Åsa Regnér.

Editorial staff
editorial@nordictimes.com

Save the Children's measurement method for child poverty

Save the Children Sweden has updated its method for measuring child poverty. The new measure takes into account the Swedish Consumer Agency's calculations of basic needs and the number of children in families receiving social assistance. Between 2019 and 2022, poverty decreased according to both measures, but during 2023, the new measure shows an increase.

Source: Save the Children Sweden

https://nordictimes.com/the-nordics/sweden/growing-number-of-swedes-living-in-poverty/

Sweden

Growing number of Swedes living in poverty

Welfare collapse

Published October 20, 2025 – By Editorial staff
For the most vulnerable, every day becomes a struggle when the safety net fails.
1 minute read
Editorial staff
editorial@nordictimes.com

An increasing number of Swedes are living in material and social poverty. According to this year's poverty report from Sweden's City Missions, poverty in Sweden has nearly doubled since 2021.

Last year, 698,000 Swedes lived in some form of poverty, according to the report. The increase in poverty in Sweden stands out across Europe, particularly in terms of speed – having nearly doubled in four years. Jonas Rydberg, secretary general of Sweden's City Missions (a charitable organization), believes the rising poverty is largely due to the economic downturn and sharp increases in food prices.

— But what we can show in our report is that it's also because it's becoming increasingly difficult to have one's rights met. For example, financial benefits. They are inaccessible and difficult to obtain, he says in Nyhetsmorgon.

Rydberg notes that many of those seeking help from the city mission don't receive the general social insurance benefits they're entitled to, making it significantly harder to manage daily life. Social welfare support, for example, has become more complicated to obtain and the payments are very low.

— It has become increasingly difficult and the ultimate safety net is being eroded in Sweden.

The Swedish government recently presented a welfare reform that involves stricter requirements for social benefits, with the goal of getting more people into work. According to Rydberg, the proposal risks instead pushing more people into poverty.

— It's difficult and the labor market in Sweden is not accessible, he states.

Editorial staff
editorial@nordictimes.com

Definition of poverty among adults in Sweden

An adult is considered poor if they lack the financial means to meet at least five of the following basic needs:

  • Eat protein-rich meals (meat, fish, chicken or vegetarian) every other day
  • Maintain a satisfactory indoor temperature in their home
  • Invite friends and family over or meet them for meals or coffee at least monthly
  • Have access to the internet
  • Manage to regulate loans and pay bills on time
  • Have a small amount available for personal expenses weekly
  • Own at least two pairs of functional shoes suitable for different weather conditions
  • Replace broken or worn-out furniture when needed
  • Participate in leisure activities with some regularity
  • Buy new clothes when the old ones are too worn
  • Handle an unexpected expense of €1,200 (the amount is adjusted periodically)
  • Take a week-long vacation away from home annually
  • Own a personal vehicle

Source: Sveriges stadsmissioner (Swedish City Missions)

https://nordictimes.com/the-nordics/finland/finland-was-a-european-model-now-homelessness-is-rising-again/

Finland

Finland was a European model – now homelessness is rising again

Welfare collapse

Published October 18, 2025 – By Editorial staff
Getting off the streets is extremely difficult once you end up there.
3 minute read
Editorial staff
editorial@nordictimes.com

Finland has long been a model in the fight against homelessness, but now the trend is reversing.

For the first time since 2012, the number of homeless people is increasing – and street homelessness among young people is rising sharply.

Julius Virtavuori has lived without permanent housing for over two decades. When Yle (Finnish public broadcaster) meets him at the Tupa supported housing facility in Helsinki, Finland, he reflects on his situation.

— It's quite a long time. I think these are probably the last years I'll be in this situation. There are apartments in Finland after all.

The hardest part is the feeling of lacking goals, he tells them.

— You take one day at a time. There's nothing to build your life on long-term. And the side effects that homelessness brings – a certain use of intoxicants. That boom is long past for me, now I just take it easy.

Successful model under pressure

Julius's situation is not unique, but Finland has for many years worked systematically to reduce homelessness. The country has been a pioneer in Europe, primarily through the so-called "Housing First principle".

The model means that homeless people first receive their own apartment with a rental contract, and then support services tailored to individual needs. Instead of requiring people to first solve their social or health problems to qualify for housing, the order is reversed – housing comes first. The approach has received broad international attention and shown good results.

But according to a recent report from the Housing Finance and Development Centre of Finland (formerly ARA), the trend has been broken. For the first time since 2012, homelessness is increasing again.

At the end of 2024, 3,806 homeless people were registered in Finland. Particularly alarming is the increase in rough sleeping – people sleeping outdoors, in stairwells, or in temporary shelters. A total of 649 people lived under these conditions, which is 230 more than the previous year.

However, the figures are only indicative, as homelessness is difficult to measure exactly. A person who sleeps at an acquaintance's place one night may be forced to sleep on the street or in a stairwell the next night.

"Very alarming"

Emergency housing units report a sharp increase in young people falling outside society's support measures and being forced to sleep on the street.

Jussi Lehtonen, service manager at the organization Vailla vakinaista asuntoa (Without Permanent Housing), has worked with homelessness issues for over 30 years. He sees the increasing youth homelessness as particularly worrying.

— It's very alarming, because young people have their whole lives ahead of them. It shows for years afterward if they end up in that situation. And it would be very important to get them out of that situation quickly, says Lehtonen.

He believes that homelessness is often a consequence of too few affordable homes combined with cuts in benefit systems, which has made it harder for people with small incomes to manage financially.

— Ending up on the street is harmful in many different ways. For some, homelessness becomes chronic. The social network is reformed, and you have quite a lot to do with people who are on the street. Anyone understands that's not good, Lehtonen states.

Editorial staff
editorial@nordictimes.com