The Bloco Tightrope
The collapse of Portugal's right-wing government is welcome, but the Left risks becoming complicit in a new round of austerity.
More than a month has passed since Portugal’s national elections, yet the country remains wracked with political uncertainty.
In the weeks following the October 4 election, a coalition of the Left and radical left promising to end four years of crippling austerity emerged, securing an absolute majority in parliament. But Aníbal Cavaco Silva, Portugal’s right-wing president, balked.
Invoking a higher imperative than democracy — appeasement of foreign financial markets and eurozone investors — Cavaco Silva declared that the radical left had no place in power and swore in a minority right-wing coalition at the beginning of November. Less than two weeks later, the government fell, polarizing the country to an extent not seen in decades.