As of today (June 11), the WHO (World Health Organization) has officially declared swine flu to be a global pandemic. Read more at CNN.
We are now at phase 6, the pandemic phase with H1N1. Although swine flu has spread around the world, the key question now lies in the severity of swine flu. This is from the WHO website: "At this time, WHO considers the overall severity of the influenza pandemic to be moderate... The severity of pandemics can change over time and differ by location or population. "