A brief (ECB/Fed-driven) sigh of relief yesterday in the Krona has ended as Sweden’s embattled PM has refused to resignover the government’s “disastrous leak” of the nation’s citizens’ information. Lofven has instead chosen to reshuffle his cabinet, ading “I don’t want political chaos in Sweden, that’s not what we need right now, I will take responsibility and ensure we don’t get a political crisis.”
However, as Bloomberg reports, opposition members were already signaling they weren’t satisfied with the steps taken, and Lofven’s government remains far from secure.
The prime minister said Home Affairs Minister Anders Ygeman and Infrastructure Minister Anna Johansson will leave the Cabinet, as parties representing a majority in parliament prepared no-confidence motions against them.
Defense Minister Peter Hultqvist will stay, Lofven told reporters in Stockholm on Thursday, arguing the specific motion against him was ‘not serious.’
The announcement follows speculation the prime minister would himself be forced to resign, or call an early election, in response to the deepening scandal. With the reshuffle, Lofven is buying himself time to negotiate with parliament.
This post was published at Zero Hedge on Jul 27, 2017.
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