The Portuguese Government Cabinet Crisis

Two days ago, the Portuguese Finance Minister Mr. Victor Gaspar presented his resignation to the Prime-minister Mr. Passos Coelho by means of a letter which turned out to be published by the media.

In that public letter, Gaspar recognized his failure to deal with the finance and economic crisis due to a bad strategy adopted two years ago, and he recognized that after two years of IMF/BCE/EU intervention in Portugal, 1/ the Portuguese economy performance is very much worse than it was before, 2/ taxes collection dropped abruptly due to a economic slowdown, 3/ public/state expenses increased due to a sharp increase of unemployment which is now about 18%, and 4/ the public/state debt increased in two years from about 90% of the GNP in 2011 to 126% of the GNP in 2013.

Yesterday, the leader of the coalition party CDS/PP supporting the government, Mr. Paulo Portas, who was also at the time the Foreign Minister, presented is resignation allegedly due to an internal disagreement with Mr. Passos Coelho’s choice regarding the new Finance Minister.

Mr. Coelho has chosen Mrs. Maria Luís Albuquerque to replace Mr. Gaspar position as Finance Minister, and eventually that choice was not supported by Mr. Paulo Portas who is the leader of the other coalition party sustaining the actual government.

It seems that Mr. Passos Coelho’s decision, who is the leader of the biggest coalition party PSD, was taken against any sort of political compromise with the other government party CDS/PP, and eventually that was the reason why Mr. Paulo Portas resigned form his government position.

What seems to be certain is that the public letter of Mr. Gaspar, the ex-finance minister, revealed a total failure of the IMF/EU financial intervention in Portugal, and he implied that the country has been used as guinea-pig to some experiments which drove Portugal to a severe political, economic and financial crisis.

One could (cynically) say that it seems that the European Union wants to break the democratic system in Portugal and instigate a coup d’etat bringing up some sort of dictatorship to the nation.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s