Election Throws Sweden Into Turmoil as Nationalists Advance Sweden’s election threw the nation’s political establishment into turmoil as backing for the anti-immigration Sweden Democrats more than doubled, leaving the largest Nordic economy facing a hung parliament. The three-party Social Democratic opposition led byStefan Loefvenwon 43.7 percent, versus 39.3 percent for the four-party government of Prime Minister Fredrik Reinfeldt, with 99.8 percent of the vote counted. The Sweden Democrats garnered 12.9 percent to become the third largest party. The result, which sent the krona lower, marks an end to eight years of rule by Reinfeldt’s conservative-led coalition, which delivered successive rounds of tax cuts without adding to Sweden’s debt. The premier said he will hand in his resignation today as the responsibility of forming a new government falls to the Social Democrats, which won the most votes. “We have a new unique parliamentary situation in Sweden,” Loefven said at an election-night party. He vowed to keep the Sweden Democrats from influence, opening the doors to government parties to “put the interest of Sweden first.” Traders and investors have been bracing themselves for market turbulence amid signs the election would fail to produce a clear winner. Photographer: Jonathan Nackstrand/AFP via Getty Images Close Open Photographer: Jonathan Nackstrand/AFP via Getty Images [...] ilinnews/election-throws-sweden-into-turmoil-as-nationalists-advance/
Posted on: Mon, 15 Sep 2014 02:00:59 +0000