Sweden faces a hung parliament after the two main coalition parties split the vote and the anti-immigration party vote surged.
The results:
- The four-party coalition governing the country and led by Fredrik Reinfeldt – 39.5%
- The three-part opposition – 43.6%
- The Sweden Democrats (who oppose immigration and have been shut out by the main parties) – 13% (doubled from the past election)
Reinfeldt said he will resign tomorrow.
The opposition party is led by Stefan Loefven, a former welder who was raised by foster parents after his mother abandoned him at 10 months. He plans a shift to the left and said he’s open to governing with other parties but not Sweden Democracy. He plans to reverse one-third of the tax cuts under 8 years of rule from Reindfeldt’s party and they plan to spend more on education and public assistance.
So far the market is taking it in stride but that could change when European markets come on line and liquidity improves.
EURSEK daily
