Bloomberg: Portugal's Socialists Forge Four-Way Alliance to Oust Coelho
* Socialists, Left Bloc, Communists unite to replace premier
* Costa government would speed end to post-bailout spending cuts
Portugal’s Socialists approved a plan to join forces with three other parties and oust Prime Minister Pedro Passos Coelho’s administration, raising the prospect of a new government committed to speeding the reversal of spending cuts tied to the country’s international bailout.
Portuguese government bonds dropped on Monday after the Socialists said party leader Antonio Costa will “formalize” the commitments made by the other parties to back his new government and will present a motion in parliament to reject Coelho’s government program.
The Socialist-led program “is clearly less market-friendly than the one of the incumbent government,” analysts at the Royal Bank of Scotland Group Plc in London, including Clement Mary-Dauphin, said.
WNU Editor: Zero hedge's analysis on the political crisis in Portugal is spot-on .... Black Swan Lands In Portugal As Socialists Move To Overthrow Government (Zero-Hedge),
More News On the Political - Economic Crisis In Portugal
Portugal's government is about to get ousted by a new left-wing coalition -- Business Insider
Leftwing alliance set to topple Portugal’s government -- Financial Times
Portuguese Socialist party to vote to oust minority government -- The Guardian/AFP
Portuguese yields hit 4-month high as leftists challenge government -- Reuters
Portugal’s Socialists threaten to bring down the government -- Euronews
Rising Left Bloc in Portugal Could Threaten Austerity Drive -- NYT
2 comments:
just what Portugal and Europe needed.... socialists & communists!
don't worry, these are "sensible" Euro-lefties. Move on, nothing to see here.
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