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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SWEDEN
Sweden's caretaker Prime Minister, Stefan Lofven, is seeking to retain power following a hectic two weeks in the country's political landscape. Earlier today, Lofven announced that he had secured the requisite support necessary to re-form the previous minority gov't between his centre-left Social Democrats and the environmentalist Greens. Crucially, the agrarian Centre Party and the socialist Left Party have both stated that they will not vote against Lofven's gov't in the confirmatory vote in parliament.
- The combined total of seats of these four parties stands at 174, one short of a majority in the 349-member Riksdag. The opposition parties on the right (centre-right Moderates, right-wing populist Sweden Democrats, socially conservative Christian Democrats, libertarian Liberals) have a total of 174 seats combined.
Chart 1. Riksdag, Seats (Votes required for Lofven's re-election shown)
Source: Riksdagen.se, MNI
- This means former Left Party member Amineh Kakabaveh - now sitting as an independent - could prove the tie-breaking vote if party discipline is maintained. Swedish professor of politics Jonas Hinnfors has put his view on the record that despite Kakabaveh's independent streak it is not impossible for Lofven to secure her support. In last week's no confidence vote, she abstained rather than voting against the Lofven gov't with her former Left Party colleagues.
- Speaker of the Riksdag Andreas Norlen stated in a presser that "Stefan Lofven has a solution that can be tolerated by the Riksdag. I will therefore appoint Stefan Lofven as prime ministerial candidate." A confirmatory vote is due on Wednesday, with Lofven set to present his Cabinet on Friday should he win the vote.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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