In a truly stunning development, Reykjavik falls!
Okay, close enough. And all it cost Sweden was Tegea! Tegea is legally required to change hands once every three turns anyway. It's amazing to think of a Cologne-for-Ohrid swap, (unlikely, but totally plausible), spinning this war's long east-west front a full 90°, with a northern Sweden battling a purely southern Iceland. This war is a treasure.
Sweden's army is growing impressively. They have more than enough in Germany to hold the line in the west and a massive reserve force around Wroclaw and Poznan. Snatch back Reykjavik, maybe add Ohrid, and sue, Ingolfur. This might be your last chance.