Portuguese Government Falls As Socialists, Communists Topple PM

Tyler Durden's picture

Well it wasn't hard to see this coming.

As detailed here on Tuesday, Antonio Costa and the Socialists have fulfilled their promise of ousting Portuguese PM Pedro Passos Coelho's government just days after President Anibal Cavaco Silva reappointed the premier on the heels of largely inconclusive elections. 

  • PORTUGUESE PARLIAMENT REJECTS PM COELHO'S GOVERNMENT PROGRAM
  • PORTUGAL GOVERNMENT FALLS AFTER LAWMAKERS BLOCK COELHO PLAN

For those who missed it, the Socialists moved to form a government with the Left Bloc and the Communists and when Silva decided to give them the political equivalent of a swift slap in the face by reappointing Coelho, the stage was set for a veritable mutiny.

Today's events validate Communist leader Jerónimo de Sousa's contention that Silva's decision would amount to a "manifest waste of time." 

Here's AP:

Anti-austerity lawmakers have forced Portugal's new center-right government to resign by rejecting its policy proposals.

 

The showdown comes less than two weeks after the center-right government was sworn in.

 

The moderate Socialist Party forged an unprecedented alliance with the Communist Party and the radical Left Bloc to get a majority in the 230-seat Parliament and vote down the proposals Tuesday.

 

After four years in power the government lost its parliamentary majority in an Oct. 4 general election, which saw a public backlash against austerity measures adopted following a 78 billion-euro ($84 billion) bailout in 2011.

 

Socialist leader Antonio Costa is expected to become prime minister in coming weeks, supported by the Communists and Left Bloc. The have promised to alleviate austerity, though critics fear a return to borrow-and-spend policies.

So get ready Brussels and Berlin, because you might be in for another anti-austerity battle only this time, the country in question "matters." 

But then again, the "smartest" guy on the Street doesn't think there's anything to worry about...

We close with the following, from AFP:

Finance Minister Maria Luis Albuquerque, from the centre-right coalition which won the most votes in last month's polls but lost the absolute majority it had enjoyed since 2011, warned that the rival bloc would derail Portugal's economic recovery.

 

"If investor confidence is shattered, the threat of bankruptcy is real," she told parliament.

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gladius17's picture
gladius17 (not verified) HedgeAccordingly Nov 10, 2015 1:42 PM

*scratches that one off the potential immigration list*

Neil Patrick Harris's picture

The sooner Europe abandons the EU, the sooner they will get their democracies back.

Bill of Rights's picture

Umm hows that Democracy working out for you? look around its failing, all DEMOCRACIES fail eventually.

 

http://www.declineoftheempire.com/2012/03/democracies-always-fail.html

Latina Lover's picture

The only cohesive alternative to the fascist banksters are the communists and socialists.  Read the part in the TPP where corporations can hire overseas labor, bring them to the US, and pay the SAME WAGES as if they were still living in their home country.  How would you like to work for $10 per day without benefits, because this is exactly what is planned for you.

Zwelgje's picture

When the boss pretends to pay a living wage, the workers will pretend working.

-Soviet saying

Amish Hacker's picture

You and Boris should get together. The ZH Boris, not the Moscow Boris.

highandwired's picture

I never imagined that I would be cheering for commies...the world is totally screwed up.

 

"If investor confidence is shattered, the threat of bankruptcy is real," she told parliament. 

BRING IT ON!

ThroxxOfVron's picture

Solvency is not a matter of confidence.

highandwired's picture

The entire fraudulent monetary structure is based on CONfidence, more specifically, the confidence the sheeple have in their fiat currency. 

CheapBastard's picture

There's never been a better time then now to work for the gubmint. Those unionized gubmint folks will never let themselves be replaced by 10 cents/hour foreign labor. You can bet on that!

 

Barry toasted the private sector since everyone -- from brain surgeons to engineers to hair dressers -- can be replaced by very low-pay foreigners.

NidStyles's picture

Oh look Communists getting elected on the premise that they will do positive things for a single nation without sacrificing it's sovereignty. 

 

How many times do the communists need to be in power in Spain before the Spainards catch on? Letting this middle-eastern socialist disease into Europe was the worse choice the Catholics ever made. 

 

Secret Weapon's picture

I prefer the Rocky and Bullwinkle Boris.

TBT or not TBT's picture

Huh, here at ZH we thought the PIIGS really had run out of other people's money, but apparently the FSA voters in Portugal didnt get the message?    Have they never heard of Venezuela, Argentina, Zimbabwe and friends?   Well the Gods of the Copybook Headings will win the day, in Portugal as everywhere, for all time.  TANSTAAFL 

silvermail's picture

West led by the United States built a model of a society in which 98% of all the wealth of the world, owns only 2% of the population.
This is not a model of world order. It is a model of global slavery.
This model is an unstable structure.
Therefore, to save this flawed model, the US constantly has been using power of the military-police force inside the country and abroad.
They can not stop. They want to have the poor even poorer, but the rich even richer.
I can say with 100% guarantee that this model is the most unjust is doomed to death.
It is a parasite on the body of the international community. The only question is whether our world to destroy this parasite and not die in the fire of nuclear war.

Killdo's picture

interesting for such a 'religious' country where even presidents are 'born again' Christians (like Carter and W) and proud of it. 

garlll's picture

They know, the problem is that the last government in portugal stole from every portuguese,

Portugal now is like one country of america latina without production agriculture, industrial production etc

TBT or not TBT's picture

Lefties always pay themselves well.  Their demagoguery is a means to power, and then power is their means to a good lofe for them, their family, and their allies.   

Elliott Eldrich's picture

"Read the part in the TPP where corporations can hire overseas labor, bring them to the US, and pay the SAME WAGES as if they were still living in their home country."

The TPP is 5,554 pages long, consisting of 30 chapters, most with as many as dozens of sub-chapters. Would you be so kind as to cite the chapter, page and or sub-chapter page that this is located on? I thank you in advance for this.

Killdo's picture

and most (especially young) peopel still have not even heard of TPP

Tonald J Drump's picture

damn, that sucks for Portugal that their government has been taken over by radical socialist scum...hopefully that never happens here in the United .... uh, wait a second  

Bunga Bunga's picture

The EU is already a radical socialist scum. What difference does it make?

Gatos Locos's picture
Gatos Locos (not verified) Bill of Rights Nov 10, 2015 1:59 PM

The U.S. was created as a Republic but morhped into a Democracy.  Looks like the U.S. will fail too.

More Ammo's picture

The U.S. was created as a Republic but morhped into a Democracy.  Looks like the U.S. has failed too.

 

 

There, fixed it for ya.

Alvin Fernald's picture

The US was created as a constitutional republic but morphed into a fascist oligarchy.
FIFY

ThirdWorldDude's picture

NEWS FLASH: On a long enough timeline the survival rate for everyone (and everything) drops to zero.

Latina Lover's picture

About Time that the government elected with a majority  finally took power, despite the banksters best attempts to screw the people of Portugal. I don't get hung up on labels like communist or socialist. 

Consider that Obama, heading a democratic regime (LOL), is approving the most anti labor legislation in the entire history of the US, called the TPP. Read the part where foreign labor may be brought into the US, and paid the same wages as they would have earned in their home country.  Your future will be working for $10 per day with no benefits while the banksters become multi trillionaires.  Why do you think the TPP was kept secret for years?  It was a felony to just disclose the terms, much less discuss them.

XitSam's picture

Democracy is mob rule.  Democracy is 51% saying the other 49% should be tax slaves.

uhland62's picture

Not under TTIP, democratically elected representatives cannot make laws because corporations can turn them over any time by threatening to sue for compensation in secret tribunals. 

JRobby's picture

Cramer chimed in. Boy is that great to see.

Glasnost's picture

That depends on your timeline and what actions they take.  If they create their own currency among other reforms, and don't go totally communistic dictatorship style, Portugal might be one of the faster growing countries in 4-7 years.

Glasnost's picture

Sudden Debt, can you offer a view on political things in Belgium?  Do you think there will ever be 'issues' there in the near-future?  It would be quite ironic if problems arose there :')

TBT or not TBT's picture

They're holding mountains of rock solid UST's, so they are beyond good.  

Baa baa's picture

I wonder if that will ever show up as "cause of death" on a death cetificate. Sudden Debt... I like it.

JRobby's picture

They are all in it together, as planned.

Europe's Web of Debt (as it stood in May 2011)

ZH 9/18/11

It has only gotten worse.

 

http://www.zerohedge.com/news/european-sovereign-debt-cant-we-all-just-n...

UndergroundPost's picture

Schauble just got a woody

Killdo's picture

According to my own research - MACA powder from Peru has the same or stronger effect than Viagra. It's basically powdered root of some kind of a raddish and it's cheap unlike VIagra

Bunga Bunga's picture

.. after Merkel operated his pump.

pods's picture

That Euro thing is working out just fine.

Who's up after Portugal?  Is Italy batting cleanup?

pods

JustObserving's picture

Where is the US/NATO Operation Gladio that kept Socialists and Communists out of European governments by bombing train and bus stations and terrorizing ordinary citizens while always blaming the leftists? 

Not to worry, the Nobel Prize Winner can always start Operation Gladio II and drone a few leftists.

Operation Gladio is undisputed historical fact. Gladio was part of a post-World War II program set up by the CIA and NATO suppose right-wing terrorist network, involved in false flag operations and the subversion of democracy.

http://www.truthmove.org/content/operation-gladio/

The existence of Gladio was confirmed and admitted by the Italian government in 1990, after a judge, Felice Casson, discovered the network in the course of his investigations into right-wing terrorism. Italian prime minister Giulio Andreotti admitted Gladio’s existence but tried to minimize its significance.

The main function of the Gladio-style groups, in the absence of Soviet invasion, seems to have been to discredit left-wing groups and politicians through the use of “the strategy of tension,” including false-flag terrorism. The strategy of tension is a concept for control and manipulation of public opinion through the use of fear, propaganda, agents provacateurs, terrorism, etc. The aim was to instill fear into the populace while framing communist and left-wing political opponents for terrorist atrocities.

smacker's picture

copy/pasted 4 times in the same comment?

JustObserving's picture

It would not show while editing  So i kept pasting not suspecting that it was already there.  Why was the comment not showing up while composing I don't know.  First time it has ever happened.

The text does not show up when copied and pasted to a word processor either

coast's picture

Happened to me yesterday JO....I had a burning question..lol....