How do you impose the toughest austerity measures a country has experienced in more than three decades and increase your popularity ratings at the same time? Ask Pedro Passos Coelho, Portugal’s spendthrift but widely admired prime minister. Elected in June in a historic victory for his centre-right Social Democratic Party, the seemingly impermeable Passos Coelho […]
Portuguese voters have swung to the centre right in an election focused on the country’s economic woes and IMF bailout.
When Portuguese Prime Minister José Sócrates resigned in March after his debt-reducing austerity plan was thrown out of the Lisbon parliament many people thought it would be the end of the once popular leftist leader. They may have been wrong.
In ‘The Portuguese: A Modern History’, Barry Hatton has written a lively and rigorous account of how a nation that is so often overlooked has come through disaster, dictatorship, revolution and economic mismanagement.
Portuguese officials continue to insist they can keep the threat of a bailout at bay with their current austerity push. However, that does not mean the markets will be convinced.