Speech by PM Ulf Kristersson 16 September 2024.

(Check against delivery).

Dear Friends,

Europe is at a crossroads. And I say that with optimism. We are at a crossroads in the sense that the EU is in a formative phase. The Commission is in the starting blocks and will get to work in the coming months.

Our joint Swedish and Finnish government meeting today is also a starting point – for building even stronger bilateral ties and increasing our common influence in European policymaking.

As a continent, we are confronted with tremendous challenges: Russia’s warfare against Ukraine, of course. But also more constructive challenges such as the green transition. Or improving our competitiveness in the global markets.

If we want to be able to keep supporting Ukraine. If we want to be able to finance the green transition. If we want to improve our level of welfare for future generations – we need a growing and more dynamic economy.

A more prosperous Europe has neither easy nor quick fixes. It is a major step forward that competitiveness is high on the agenda. Speaking about it is necessary but not sufficient.

There is a newly released report from Mario Draghi, underlining the sense of urgency. In many ways it actually mirrors quite a few of the positions of Sweden and Finland. But on the other hand, a focus on more joint debt won’t build future growth.

Better, rather than more, regulation must be one of the guiding principles. Completing the single market is another. Becoming and staying attractive to the world’s most rapidly growing companies, a third.

The future economy will be a digital one, and Europe is lagging. Competitiveness will require improved digital infrastructure, investments and scale.

Innovation and research are crucial if we want to remain competitive. This is a shared undertaking where both private and public investments are key.

Both our countries are front runners in capital markets. Our companies are more likely than their peers to raise capital through IPOs. Our households utilise equity investment to a larger extent than the rest of Europe. The list goes on.

Being part of the shaping of the Brussels agenda is a must. That applies to politicians. But it also applies to businesses.

I’m happy to be up on that European barricade with Petteri and our two governments. And I want you who serve in other important positions to know that we really get along well and try to support each other on big international platforms. I do look forward to seeing all of you as well on that barricade for years to come.