The Nordics have a long history of intra-bloc cooperation and innovation at the top of the European digital pecking order. flow examines how this has played out in payments and trade finance
In the ninth century, when the Vikings sailed their longboats to Greenland, the Mediterranean and up the large Russian rivers as far as Kiev, little did they know they were laying the foundations for a future of trade and economic cooperation. Fast forward to modern times and it is clear that the regional DNA of innovation and determination is not only alive and well, but is disrupting the status quo and transforming industries.
Sweden, Norway, Denmark and Finland are commonly felt by outsiders to have a strong regional identity and a cohesive and collaborative approach to business. This is supported by political and economic regimes that draw on a once very strong Protestant tradition of thrift. Today they are broadly united in having market economies combined with powerful labour unions and a comprehensive welfare sector financed by what many outsiders view as heavy taxes. This article charts the region’s achievements in trade and digitalisation with the support of the banking sector.
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