Some impressions of Copenhagen/ Malmö
Two countries, two currencies
I was in Denmark and Sweden last week. It was interesting to see how two independent countries that were formerly part of one United Kingdom relate to each other - one day perhaps Scotland and England will have a similar relationship.
Copenhagen and Malmö are joined by the Øresund Bridge - if you were a fan of the TV series you may remember the spooky theme tune. The longest combined rail and road bridge in Europe, it begins on the Copenhagen side in a long tunnel, emerging onto a constructed island when it becomes a double-decker with the road running above the train.
In the 25 years or so since the bridge was completed, the cities have become part of an area known as “the Øresund region.” Trains run about every 15 minutes and all through the night. The journey takes under 40 minutes and one of the stops is Copenhagen airport - which is many times bigger than Malmö’s.
Denmark and Sweden, both EU members, each use krone - two separate currencies with very different exchange rates. 200 DKK is £24 while 200 SEK is only £14. That is in part because the Danish krone is tied to the Euro while the SEK floats. Denmark is a wealthy country with a service economy and the lowest inflation in the EU. Sweden, a sprawling landmass on the periphery of the EU, is poorer - though still much wealthier than Scotland. Its weaker currency has some benefits for an export-driven economy. Passing a showroom in central Malmö, I was drawn in from the dusk to the Polestar showroom to take a closer look at a shimmering, powder-blue electric moped in the window - a sort of sci-fi Barbie or Ken-bike.
Because of the weak SEK, property on the Swedish side of the border is also quite a bit cheaper than Copenhagen. I spoke to Hugo and Amanda in a chi-chi estate egancy which sells throw cushions and flocked wallpaper as well as homes.
They said professionals from the bigger city over the water are some of their best clients in a slow market. Malmös stylish flats, with elegantly placed light-wood furniture and knick-knacks, certainly looked like bargains compared to one I peered at in an estate agent’s windows in Copenhagen - which was 6 million DKK for 100 square metres.
The low SEK will be bad news for Swedes who want to travel of course - Brits know well the sinking feeling of a poor exchange rate. It makes Copenhagen extra-expensive for both of us. We ate one evening in a charming French bistro where some diners chose to sit outside, draped in beige blankets and wearing woollen hats, while a mizzling rain fell onto the awning and the canal. The bill worked out at a steep £100 a head - despite a ‘moderate’ tag in the guidebook. (Full disclosure - I did have a double Lagavulin).
Malmö feels quieter than Copenhagen. Shopkeepers I chatted to were hoping that people will come over the border from Denmark to buy their Christmas gifts. I liked Malmo - it seems to take itself less seriously.
Sweden also has a less restrictive policy towards immigrants and asylum seekers. Denmark’s is about the most restrictive in Europe (though nothing like as bad the UK, which recently criminalised asylum-seekers who arrive without visas). Denmark is so clean, ordered and prosperous - we hear much of Danish “Hygge” which means cosiness, but I thought I detected a certain Danish Smug-y in the atmosphere as well.
Copenhagen is a bustling city - though traffic is light. The main mode of transport is the push bike - even on cold, autumn days the wide cycleways are full - fuller than the pavements or the roads. This is very space-efficient - you can easily imagine that if all those travelers were in cars, the city would suffer the constant tendency to gridlock that other places do.
Denmark has a strong labour market - its ‘flexicurity’ means companies can hire and fire at will but workers get generous unemployment, training and support to change jobs, and apparently about a quarter of people working in the private sector do so in a given year. I chatted to some young professionals who work in Copenhagen. None of them spoke Danish. A young Swede, who lives in Malmo and works in Copenhagen, explained that he sends emails in Swedish to clients who reply in Danish. The written language is mutually comprehensible. But they talk to each other in English - a must for Nordic businesses with international ambitions. Someone explained that Danish is “a rough, Viking language” with swallowed consonants.
The famous Tivoli gardens are close to Copenhagen’s central station. Returning from my trip across the border in the gloaming, I stepped out of the station below a row of illuminated monsters to the faint sound of screaming from the rollercoasters in the park. Very Scandi noir.
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This brings back old memories, because my only really major clients were based in Malmö , a large company who weren’t worried about using a very small firm of lawyers, something no UK plc would have contemplated. They were a very nice bunch, with directors from all over Scandinavia, who used English all the time. The bridge was still being built when I was first there and it was assumed that ferries would still run afterwards, because some passengers just went across and back for the duty free.
We went to Copenhagen in late 2019 & were very impressed with the overall quality of life together with the ease of how cycling functions. The tax on new cars is enormous which means most who live in urban areas don't own one.