The Russian invasion of Ukraine precipitated the end of Swedish neutrality with its entry into NATO. Now the Nordic country is opening the debate towards a new historical turn after decades of reticence: the adoption of the euro. As a member of the European Union for over 30 years, Sweden is one of the few countries that have maintained their own currency, the krona. Brussels' laws stipulate that the Scandinavian country will one day join the euro, but in reality, this issue has been postponed without ever setting a date. However, closer integration with the EU is beginning to seem more attractive to Stockholm, which is seeking a shield against increasing geopolitical instability and the deterioration of transatlantic relations with the United States under Donald Trump.

Geographically isolated and with an inclement climate (it rains 300 days a year and the wind reaches hurricane-force gusts), the Faroe Islands are another piece of the Kingdom of Denmark that has gained growing importance on the geopolitical chessboard. This archipelago, made up of eighteen islands, is in a privileged position to monitor the North Atlantic, where world powers compete for control of the Arctic gateways. European fishing fleets and American warships converge in its waters. At the same time, the Faroe Islands maintain a controversial trade agreement with Russia on fishing, the heart of an economy that does not depend on donations from Copenhagen (as is the case with Greenland). The Faroe Islands are part of NATO through Denmark, but they are not part of the European Union, as the autonomous government is not interested in entering into community fishing regulations.In these circumstances, the Faroese (55,000 inhabitants) elected a new government at the end of March to manage their extensive autonomy, while Denmark retains powers over defense, security, foreign policy, currency, and courts. The victory of the Conservative Party at the polls opens the door for Beinir Johannesen, 29 years old, to become the youngest prime minister the country has ever had.At a time when Donald Trump's desires for Greenland have generated anxiety in the region, the elections have set aside geopolitics and have focused on the economy, which is in expansion. The Atlantic nation's GDP per capita exceeds that of Denmark, thanks to salmon farm exports, which are worth one billion euros annually. The unemployment rate is around 1%, and the country has modern infrastructure, such as the world's first roundabout built under the sea.However, housing prices in the capital, Tórshavn, are a headache for those who want to live there, at the same time as the islands face a serious depopulation problem. Among 25-year-old Faroese, 40% choose to move abroad and approximately one in five never return. Another controversy is the largest construction project in their history: a 23-kilometer subsea tunnel that will cost the equivalent of 20% of the country's GDP.In the background of the elections, there has also been independence with Denmark, an option defended by five of the six main Faroese political formations. In 1946, the Faroese voted by a narrow margin to separate from Denmark, but at that time the Danish king Christian X did not approve it. Finally, self-government powers were expanded in 2005, after the Faroe Islands and Denmark had been connected for more than 600 years.At the beginning of this year, the Faroese government was set to reopen negotiations with Copenhagen with the intention of pushing for greater autonomy. But that was before Trump triggered the worst diplomatic crisis in the Danish kingdom over control of the Arctic island of Greenland. Faced with this situation, the Faroese leaders decided it was not the time to enter into in-depth negotiations with Copenhagen over their sovereignty: “Given the climate that was generated, it was seen that it was not opportune to start negotiations on the condition of a new state, as everything was unpredictable”, reasons Heini í Skorini, an expert in international relations at the University of the Faroe Islands.The expert explains that the reasons for independence are based on the will to have a voice of our own on the international stage: “For us, the fact of not being a sovereign entity makes it very difficult for us to negotiate new and better free trade agreements because this is done between states”, he argues. Skorini also points out that “there is a political consensus that the next step is to achieve statehood, without this necessarily implying leaving the Danish Commonwealth”.Increase in geopolitical tension

While the issue of sovereignty has been put aside, the Faroese government has extended the controversial fishing agreement with Russia year after year to exchange quotas, despite the war in Ukraine. This cooperation in fishing has irritated Copenhagen and Brussels, even though from Tórshavn it is justified that food products are not subject to sanctions. They also recall that Norway has ratified similar agreements with Moscow: “On the one hand, all EU sanctions against Russia have been adopted because we want to be part of Europe and NATO, but, on the other hand, the decision has been made to maintain fishing cooperation with the Russians,” details Skorini.Although the Faroe Islands have attracted much less attention than Greenland, the Faroese perceive the growing interest of superpowers: “Some years ago it would have been science fiction to see a North American nuclear submarine surfacing in a Faroese port, but today it is no longer the case,” assures the expert. The archipelago is located in the so-called GIUK gap between Greenland, Iceland, and Scotland, a point that NATO keeps a close eye on because it represents the exit to the Atlantic for the Russian submarine fleet based in the Arctic. Faroese politicians have also expressed their concern that Russian fishing vessels anchored in the islands may be carrying out espionage operations. To monitor all this, the United States will install new radars to observe what is happening in the archipelago's waters, “although the increase in US military presence also creates some suspicions,” acknowledges Skorini.

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Denmark's wealthiest businesspeople are up in arms and have fully entered the election campaign for the general election to be held in the Nordic country on March 24. The reason for their discontent is the campaign promise of Social Democratic Prime Minister Mette Frederiksen to reintroduce a 5% annual wealth tax as a measure to reduce growing inequality in the country. The new tax, which has become one of the hottest topics of the election campaign, would affect some 22,000 people (in a country with 5.9 million inhabitants), who would pay an average of 300,000 kroner per year (40,000 euros). Frederiksen detailed this in the business daily. BørsenThe state would collect around 6 billion kroner annually (803 million euros), which would be used to finance the ambitious public school reform presented by the Social Democrats before the elections. Just days before the polls open, surveys show that the wealth tax is viewed favorably by a majority of voters, as Frederiksen's party is the most likely to win the election. However, there is virtually a tie between the progressive parties, which have supported the Social Democrats' proposal, and the conservative parties, which completely reject the idea. Executives from some of the country's leading companies have also publicly voiced their strong opposition, making unusual media appearances during the campaign. The CEO of shipping giant Maersk, Robert Maersk Uggla, has stated that the tax "would have very bad consequences for Denmark." Uggla, who heads the largest company in the Nordic country (with a turnover of €52 billion in 2024), expressed his fear that Danish companies will have even more difficulty hiring and retaining top executives due to the tax, as Denmark already applies one of the highest income tax rates in the world at 60.5% on salaries exceeding €348,000 annually. Meanwhile, businessman Henrik Andersen, CEO of Vestas (a world leader in wind turbine manufacturing), has threatened to pack his bags and move the company abroad if the Social Democrats fulfill their election promise. "If it comes to fruition; I can be more clear," he said in an interview with the newspaper. Berlingske

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The idea that the Nordic countries should develop a joint nuclear weapons program would have been considered absurd and ridiculous just a few years ago. But now times have changed, and the uncertainty over whether the United States is no longer a reliable ally is generating profound Concern in a region that fears Russian aggressionIn this context, a question is circulating that would have been unthinkable before, but which is starting to be heard among various personalities and academics, who are questioning whether the time has come for the Nordic countries to build their own nuclear protection umbrella.

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Birgitte Thorup Nielsen (67 years old) carefully descends the icy stairs to avoid slipping. The sea water is -1 degree Celsius, and the strong wind whips up waves that splash her swimsuit before she enters the water. On a winter morning, the sun is hidden behind a gray sky, and the air temperature is -4 degrees Celsius, but the gusts of wind make the cold feel even more intense.

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Not so long ago, Novo Nordisk was the most valuable company in Europe thanks to sales of the drugs Ozempic and Wegovy, which proved to be miracle weight-loss injections. At the beginning of summer 2024, the Danish pharmaceutical company was worth more than the companies of the French luxury conglomerate LVMH and the Dutch chip manufacturer ASML. In fact, Novo Nordisk earned so much money that the Novo Foundation, which owns part of the company, became one of the largest philanthropic foundations in the world, on par with the Bill & Melinda Gates Foundation, created by the founder of Microsoft. Given this boom, the pharmaceutical company's decline over the last two years is all the more striking. This fall is clearly reflected on the stock market: on June 25, 2024, the company's shares reached a peak of €113, but now the price has dropped by almost 70%. The Danish pharmaceutical company's latest stock market plunge occurred last week, when its shares fell 18% in a single day, coinciding with the release of its 2025 financial results and sales forecasts for this year. According to the company's results, Novo Nordisk continues to be very profitable (€13.7 billion, up 1.4% year-on-year, and sales of €41 billion, a 6.4% increase). However, the outlook for the future exacerbates the pharmaceutical company's crisis, as it forecasts a revenue decline of between 5% and 13% by 2026. This decline represents the first drop in annual sales since 2017, before the company began selling the drug Ozempic. In response to this announcement, Chief Financial Officer Karsten Munk Knudsen admitted that it was a "very disappointing" forecast. Thus, the year has not started well for the company. The company had made a big bet earlier this year on launching a weight-loss pill with the same active ingredient, semaglutide, as the popular drug Wegovy, which, however, is injected. But less than two days later, a pharmaceutical imitation of this drug, manufactured by the American company Hims & Hers Health, appeared on the market, priced at $49 for the first month and $99 for subsequent months, while the drug manufactured by Novo Nordisk sells for $149.

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The influence and strength of NATO allies are not measured solely by troop numbers or defense budget figures. Denmark clearly illustrates this. Despite being a small nation with a modestly sized armed forces, the Nordic country has built a reputation as a crucial member for NATO's interests. This is due to its geographic location and its political reliability, as it has historically been one of Washington's closest and most loyal allies.

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The Greenlandic flag is flying these days on several iconic buildings in Copenhagen, such as the famous Tivoli Gardens amusement park, the central Nørreport Square, and Christiansborg Palace, where the Danish Parliament is located. "Denmark has always believed in democratic values and dialogue, and therefore, from the Greenlandic perspective, we stand with the current pressure from American politicians," said the Speaker of Parliament, Søren Gade, on the day a delegation of US congressmen visited the Danish capital.

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The a hard line against immigration The policy that the Danish government has been promoting in recent years has suffered a significant setback from the European courts, now that other European countries, with the United Kingdom at the forefront, intend to emulate the Danish migration model.

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Finland remains the happiest country in the world according to theWorld Happiness ReportDespite its struggling economy battling stagnation, the unemployment rate is already the second highest in the EU (only behind Spain), and imbalances in public finances are leading to significant cuts in its prized welfare state. Not so many years ago, the Nordic country was an example of what are known as... countries frugal and one of the EU's most fiscally disciplined partners. Now things have changed, and the country's public debt is projected to reach 90% next year, almost 50% higher than in 2019. The public deficit has also risen this year to 4.5% of GDP, a figure higher than the 3% of GDP tolerated by Brussels.

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Denmark no longer considers the United States under Donald Trump a reliable ally for its security. This conclusion is drawn from the annual report published by the Danish military intelligence service (FE), which outlines the threats detected against the country. The report states that the main threats come from Russia and China, along with a list of terrorist organizations. What has caused surprise is the addition of the United States this year, despite the country being a long-standing ally of Denmark within the NATO framework.

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In Sweden, 65 car mechanics have been on strike for two years against the electric vehicle company Tesla, owned by the world's richest man, Elon Musk. The strike is the longest in the Nordic country in the last 100 years and represents the first and only strike in the world against a company owned by the billionaire who recently stepped down as Donald Trump's right-hand man in the White House.

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Beneath the streets of Copenhagen lie vestiges of the Cold War that the Danish Parliament wants to unearth. For decades, the subsoil of the Danish capital housed a network of 6,000 public bunkers to protect against air raids. Today, hidden among weeds and covered in graffiti, 1,000 shelters remain, relics of a past that everyone had forgotten.

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US President Donald Trump has been harboring animosity toward wind energy since wind turbines ruined his ocean views at one of the tycoon's golf courses in Scotland. Since Trump returned to the White House, he has also claimed that wind farms are "ugly, expensive, and an unreliable source of energy," and has launched a crusade against the wind energy industry. One of the companies that has felt the most headwinds from the US administration is the Danish energy giant Ørsted, a pioneer and world leader in the construction of offshore wind farms, with two of its major projects currently under construction in the US.

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Just two years ago, the Danish pharmaceutical company Novo Nordisk was the most valuable company in Europe (around €600 billion), and its growth seemed limitless thanks to sales of its drugs Ozempic and Wegovy. Originally intended for diabetes, these drugs turned out to be miracle injections for losing appetite and losing weight, causing the Danish company to multiply its value fivefold in just five years.

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With the rise in the polls and the increase in popularity of the far-right Progress Party (FrP), few thought a year ago that the Labour Party of Prime Minister Jonas Gahr Store could win the Norwegian parliamentary elections againHowever, on Monday night, at the Social Democrats' headquarters, a euphoric Store, overcome with victory, delivered a very clear message: "This is a signal outside Norway that social democracy can also win despite the right-wing wave."

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The last meal eaten by climate activist Vebjørn Bjelland Berg, cousin of Norwegian Environment Minister Andreas Bjelland Eriksen, was five weeks ago. Since then, he has been on hunger strike to demand that Norway end the exploitation of its gas and oil fields, which have made the Nordic country one of the richest in the world.

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At a time when polarization and hate speech against minorities are spreading, and when face-to-face communication between people is increasingly difficult to achieve, there is a movement in Copenhagen that goes against the grain. In a green corner of the Danish capital is the "human library" (Menneskebiblioteket in Danish), where, unlike traditional libraries, you don't borrow books, but rather people with whom you can converse. Each book on its shelves represents a group of people who are not very visible in society and who are often subjected to prejudice, discrimination or stigmatization.

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Imagine a digital world where social media platforms weren't used to collect users' private data, nor did they try to capture users' attention for as long as possible so they wouldn't leave the app. Imagine social media that truly served to unite people in the virtual and physical worlds, and facilitated a dialogue marked by democracy and decency online.

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Finnish government ministers have received training to combat the racist attitudes and comments that have shaken the country. Since the government's formation three years ago, the government has been rocked by several episodes that have exposed the racist attitudes of ministers who are members of the Finns Party. The far-right populist party entered the executive branch with more influence than ever in 2023., occupying seven of the nineteen portfolios in the government, which is formed together with the National Coalition Party (conservatives) and two smaller parties.

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