William Engdahl. Very soon, perhaps in a matter of weeks, it will become clear again, as in Greece, or in Germany in , that austerity, spending cuts and tax increases are not a way out of a national economic crisis. The government of Prime Minister Passos Coelho, a free market neo-liberal, lost the majority. His right-wing Forward Portugal Alliance PAF won the most votes of any party, but his austerity coalition lost their majority, winning only Coehlo has been in power since June when the Euro crisis caused panic exit of high-debt Eurozone countries by international investors.
In Portugal a left-communist-socialist bloc of parties led by Socialist Party leader Socialist leader, Antonio Costa, got an absolute majority in the Assembleia or parliament.
