This study analyses the implementation of the EU Floods Directive in Sweden. The question here centres on the possibilities promoted by the directive for sustainable flood risk management, with an emphasis on integrated and participatory management forms. Key persons are interviewed, using a set of criteria for sustainable river basin management as a theoretical framework. The study shows that work in this area is guided by a wide array of values, and that the involved experts provide a broad knowledge basis for this work. The need for better coordination between authorities, pieces of legislation and policy fields however remains critical while the merits of participatory planning approaches are not yet sufficiently utilised. One of the primary tasks here is to develop a shared understanding of the formal context and roles of the process while also developing forms for effective collaboration both within the new administration and between the administration and other key actors, most importantly the municipalities. The case of Sweden can provide useful insights into this process for other member states.