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• Sweden's PM presents his new government
• No parliamentary majority for Swedish PM
• Swedish political PR mastermind steps down

Sweden’s Prime Minister Fredrik Reinfeldt on Tuesday presented his new government and announced a number of new cabinet ministers.

The Scandinavian country’s new financial markets minister is Peter Norman. He’s currently the head of the AP7 state pension fund. Norman is to replace Mats Odell.

Peter Norman told business website Dagens Industri after the announcement that his most important task will be to safeguard financial stability in Sweden as well as internationally. “If and when, heaven forbid, there will be another financial crisis, it is important to us well equipped", he said.

The prime minister declared the appointment at the opening of parliament.

Fredrik Reinfeldt's centre-right coalition missed out on a parliamentary majority by two seats in the general election. Reinfeldt, whose bloc took 49.28 percent of the vote, must now seek alliances with leftwing opposition parties to form a government.

The AP7 fund was established as part of Sweden's 2000 PPM pension reform, and converted to a lifestyle fund this year.