Wednesday, September 17, 2014
Swedes Facing Breakdown In Nation’s Budget
Via The Swedish Wire: With a hung parliament now a reality in the largest Nordic economy, Swedes may be facing a breakdown in their nation’s budget process just three months from now, Bloomberg reports. Sunday's general election ended without a majority for either side. The Social Democrats, which won the most votes, will now try to form a government. Without a majority, the new government will struggle to push through key pieces of legislation including defense spending, according to Martin Enlund, an analyst at Nordea Bank. The legislative limbo is the worst possible outcome for Sweden’s currency, he said.