The hits just keep on coming for the new Swedish government. Two ministers have already been forced to resign, and a third one might join the fray soon. Former Prime Minister and current Foreign Minister Carl Bildt (of the Swedish right-wing Moderate Party) has gotten himself into quite a bit of trouble. After leaving the Prime Minister's office in 1994, Bildt was rather active in foreign policy, particularly in the Balkans, where he served as a conflict mediator and as co-chairman of the Dayton Peace conference. In addition to that, he also did quite a bit of work in the private sector, serving on several company boards. It's one of those boards that's causing Bildt a world of hurt.
Bildt was on the board of directors for a Swedish investment company called Vostok Nafta, primarily focused on investments in oil and gas in the former Soviet Union. About 90% of those investments are in the Russian gas giant Gazprom. Upon resigning from the board last October to become foreign minister, Bildt cashed in some 500,000 euros in stock options he received in salary as a board member. Chump change in the grand scheme of things, but it causes several problems for Bildt. First of all, he wasn't entitled to keeping the stock options at all upon his (voluntary) resignation, but had to request a special decision from the board to allow him to keep them. If you're a member of the "new workers party," as the Moderates campaigned on last year, that won't fly (nevermind that he would truly be deserving that much cash for attending a grand total of four board meetings!). Secondly, there's a potential conflict of interest as Gazprom wants to build a gas pipeline in the Baltic Sea, which at some point has to be contemplated by the Swedish government. 500,000 euros cashed in by the Foreign Minister of said government are thus looking rather suspicious in that light.
In predictable upper class twit form, Bildt himself has reacted as if he's being the victim of left-wing media witch hunt, claiming to be entitled to that money and that anyone suggesting otherwise is guilty of "partisan politics." Not only that, but he seems to be under the impression that by accepting the (rather well paid) position of Foreign Minister, he has made an enormous sacrifice almost messianic in proportions. It's certainly understandable that being a Minister in a government requires a certain arrogance and belief in one's ability to do the job, but Bildt really takes the cake.
Prosecutors are looking into the legality of Bildt's actions. Maybe they're perfectly legal, maybe they're not. Politics is all about perception, though, and the perceptionon on the western shores of the Baltic Sea is that Bildt is yet another corrupt minister in a government that campaigned on being exactly the opposite. I used to have a lot respect for Bildt, if not for his domestic policy, at least for his work in foreign policy. After this latest scandal, however, it's hard not to look at his foreign policy achievements and wonder how much of his actions were influenced by his private sector commitments.
Prime Minister Fredrik Reinfeldt took quite a gamble when he decided to appoint Carl Bildt to the position of Foreign Minister. Looks like Reinfeldt rolled snake eyes. Regardless of the legality of the actions of the Foreign Minister, Carl Bildt ought to resign.
