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A kingdom of Northern Europe, Sweden occupies the eastern portion of the Scandinavian Peninsula and borders Finland in the northeast. It has a coastline on the Gulf of Bothnia and the Baltic Sea to the east, and the Skagerrak and Kattegat Straits lie to the southwest. Sweden has enjoyed a long period of peace and neutrality, and an almost continuous Social Democratic government since 1932. This stability, combined with the countrys mix of high-tech capitalism and an extensive social welfare system, has resulted in Swedens enviably high standard of living. Today, Sweden is a major producer of timber, iron and steel, machinery, motor vehicles, and hydropower, and these mainstays of the economy are oriented toward foreign trade. However, indecision over the countrys precise role in Europe delayed its entry into the European Union until 1995. It has declined to join the euro system, having concerns about the diminishment of its sovereignty. The European Countries Today series provides information on the 15 of the most important countries in Europe. Each book in the series describes the history, geography, economy, culture, and relationship each country has with its neighbors. There is also a separate title, European Union Facts & Figures, which provides statistical and factual information about the European Union.