The motto of the Swedish EU Presidency "We accept the challenge" points to the fact, that most of the tasks facing the Presidency were the leftovers of previous Presidencies or part of the EU's running agenda. This article therefore focuses on the following priorities of the Presidency: economy and employment, the new climate programme, the Stockholm Programme, the EU strategy for the Baltic sea region, EU enlargement and security issues, and the preparations for the implementation of the Treaty of Lisbon. The author assesses both the degree to which these goals are fulfilled and the importance of these results. She conducts this assessment from several perspectives, contrasting Swedish perspectives with those of other EU member states. Furthermore, some more general reflections as to the functions of the EU-Presidency - such as its mediatory or leadership role -, and the relationship between the smaller and the larger EU states - are made. [ABSTRACT FROM AUTHOR]