In many power systems, the increased penetration of inverter-based renewable generation will cause a decrease in kinetic energy storage, leading to higher frequency excursions after a power disturbance. This is the case of the future Nordic Power System (NPS). The look-ahead study reported in this paper shows that the chosen units participating in Frequency Containment Reserves (FCR) cannot keep the frequency above the prescribed threshold following the outage of the largest plant. This analysis relies on a detailed model of the Northern European grid. The latter is compared to the classical singlemass equivalent, and the impact of voltage-dependent loads is assessed in some detail. Next, the paper focuses on emergency power control of the HVDC links that connect the NPS to the rest of the European grid, which can supplement or even replace part of the FCR. The proper tuning of that control is discussed. Finally, the analysis is extended to the HVDC links connecting the future North Sea Wind Power Hub under two configurations, namely low and zero inertia. The impact of outages in the latter sub-system is also assessed. The material to simulate the system with industrial software is made publicly available.