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Swedish Liftists Win Election After 80 Years

Swedish Liftists Win Election After 80 YearsSwedish Liftists Win Election After 80 Years

Sweden’s Social Democrat Leader Stefan Lofven defeated incumbent Prime Minister Fredrik Reinfeldt in parliamentary elections on Sunday, signaling the return of a left-leaning government after eight years in opposition.

The shift reflected concerns among the Swedish electorate that Reinfeldt’s pro-market policies have chipped away at the country’s cherished welfare state. Reinfeldt said he would resign as prime minister on Monday and as leader of his party by spring, Wall Street Journal reported.

Lofven, though, still faces tough negotiations with left-leaning allies over forming a coalition government after failing to secure an absolute majority.

With nearly all votes counted, results from Sweden’s election authority showed the Social Democrats won 31.1% of the vote, largely unchanged from the last election in 2010, while Reinfeldt’s Moderate Party slumped to 23.2%, from 30.1% at the last election. Though the two parties won nearly the same amount of votes four years ago, Reinfeldt’s Moderates were then able to cobble together a larger center-right alliance of parties.

 

Financialtribune.com