Sweden's stalemate continues as Centre and Left urge each other to compromise
The four centre-left parties are set to meet between 1pm and 5pm on Friday at the Högberga conference hotel on Lidingö outside Stockholm. But so far the Left Party and the Centre Party are not showing any signs of being closer to get along.
Left Party deputy leader Ida Gabrielsson and Martin Ådahl, economic policy spokesperson for the Centre Party, went head to head on public broadcaster SVT's news programme, Aktuellt, on Wednesday evening.
"It doesn't matter what Martin and I think. People know we don't agree on everything," said Gabrielsson. "Voters have voted for the four of us -- for us even slightly more than for the Centre Party. We're prepared to compromise and sort things out."
Ådahl, however, urged the Left Party to back down from what he called "ultimatums".
"It is the Left Party demanding cabinet seats and ministerial posts. You cannot demand that, especially not when you are on the political fringe. We are trying to be constructive, invite dialogue and actually move away from this tactical game."
In the end, neither party backed down. The Left Party continues to insist on cabinet seats, and the Centre Party continues to insist on the Left Party not getting any cabinet seats. They both insist that the other one should be more reasonable.
"The Swedish public needs a government now, and to achieve that, we need each other," said Gabrielsson. (TT/The Local)
Swedish vocabulary: sort things out – reda ut saker
First stretch of Stockholm bypass to open in two months
The first section of the "E4 Förbifart Stockholm" bypass is set to open to traffic in two months, Sweden's Transport Administration announced. The stretch, between Häggvik and Hjulsta, is scheduled to open on December 6th.
"This is a major milestone for the Stockholm region," said Tyra Wikström, regional director for the Swedish Transport Administration's eastern region, in a statement.
"It lays a better foundation for a transport system that can meet the demands of a growing region and is less vulnerable to disruptions."
Work continues on the remaining section between Kungens Kurva and Hjulsta, with the entire motorway link scheduled for completion in 2030.
Once the entire route is finished, driving between Kungens Kurva in the south and Häggvik in the north is expected to take around 15 minutes, according to the Transport Administration. Today it takes about half an hour (give or take traffic). (TT/The Local)
Swedish vocabulary: a motorway – en motorväg
Swedish Riksbank sets new deadline to cash in old banknotes
If you happen to have over ten-year-old Swedish banknotes stashed away at home, it's time to hand them in, otherwise they risk becoming worthless.
Sweden's central bank, the Riksbank, has decided to align its policy with the rest of the Nordic region by introducing a strict expiry date. In practice, this means that the window in which to redeem invalid banknotes will be capped at ten years, setting the final deadline as June 30th, 2027. Altogether, 3.9 billion kronor remains in circulation – and a portion of these funds may well be sitting forgotten in someone's wardrobe or chest of drawers.
"Our advice right now is to really search your stash and perhaps talk to elderly relatives. Looking at the cases we've received over the years, it's not at all unusual for people to have forgotten that they had cash saved somewhere," Christina Wejshammar, head of the Riksbank's payments department, told TT.
In practical terms, this applies to all Swedish banknotes that became invalid in 2017 or earlier. Among these are the old red 500-kronor note and the green-blue 100-kronor note featuring botanist Carl Linnaeus.
However, receiving a payout is by no means guaranteed. You have to be able to demonstrate through paperwork how you obtained the cash and why it wasn't spent earlier.
Those who send in their cash must also be prepared to pay a 300 kronor administrative fee to the Riksbank. (TT/The Local)
Swedish vocabulary: a banknote – en sedel
Fixed mortgage rates surge in Sweden as gap with variable rates widens
Fixed-rate mortgages in Sweden have risen sharply over the past month, according to a compilation of average bank rates.
For instance, the average rate for a three-year fixed mortgage climbed to 3.48 percent across the 13 banks surveyed. In August, the corresponding rate stood at 3.32 percent, according to the analysis by comparison site Zmarta.
Five-year fixed rates also increased, from 3.56 percent in August to 3.65 percent in September.
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Meanwhile, variable rates remained more or less stagnant at an average of 2.72 percent.
"The gap between variable and fixed rates has rarely been as wide as it is right now. Anyone looking to hedge against potential rate hikes will have to pay a high price for that peace of mind," said Ola Söderlind, household economist at Zmarta, in a statement. (TT/The Local)
Swedish vocabulary: fixed rate – bunden ränta