Monday, June 06, 2011

Good News From Portugal

Portugal took a right-wing turn as the left-wing Socialist Party lost to the centre-right Social Democratic Party and the conservative Democratic and Social Center Party.

This was likely mostly a protest vote against the ruling Socialists, rather than an endorsement of the winners, but even so, this will mean that Portugal's inevitable austerity measures will to a higher extent take the form of spending cuts rather than tax increases, something that will strengthen Portugal's economy.


Blogger BashTheMsm said...

i dont expect any change. different faces, perhaps even faces with the real intention of reducing the state machine size, but they will be defeated by the vested interests, the EU and the powerful state bureaucracies. just look at the last 5 years of right wing governments in europe: they have achieved absolutely nothing. the reality is that governments are just a lot of theatre, with not much power and no will to use it.

12:03 PM  

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