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Socialist landslide in Portugal!

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  • Socialist landslide in Portugal!

    Just when you think it's all bad news!

    Socialists win landslide in Portugal
    Last Updated Sun, 20 Feb 2005 21:53:57 EST
    CBC News
    LISBON - Portuguese voters have handed a landslide victory to the Socialist Party, giving it an overall majority in the legislature for the first time.

    The centre-left Socialists won 120 of the 230 seats in Sunday's election, as the electorate punished the government for failing to end an economic slump that has seen the highest unemployment rate in seven years.


    Socialist Party supporters celebrate in Portugal. The party won 120 of 230 seats.
    The majority victory will let Socialist Leader Jose Socrates push through potentially controversial economic reforms.

    "Portugal today has a new parliamentary majority and new hope," said Socrates, who takes office next month.

    A former environment minister, he has said he wants to "change direction" through economic reforms, focusing on education and technological innovation.

    He also wants to coordinate the country's foreign policy more closely with other European Union nations.

    The Social Democratic Party, which has governed in a right-of-centre coalition since 2002, saw its worst showing in more than 25 years, capturing only 72 seats.

    "A political cycle has ended here today," said Pedro Santana Lopes, the outgoing prime minister who was ousted after only seven months in office.

    Nearly two-thirds of the country's 8.8 million registered voters – 65 per cent – turned out. President Jorge Sampaio, a Socialist Party member, dissolved parliament in December when it still had 18 months to run in its mandate, citing government instability and a failure to tackle Portugal's problems.

    Conservative politicians had been in power for three years, but had not been able to deal with unemployment rates stalled at more than 7 per cent and slow economic growth.

    The coalition, led by Lopes since July, has portrayed itself as a victim of partisanship on the part of the president. Lopes resigned in December.
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  • #2
    the whole iberian peninisula is socialist now.
    "Everything for the State, nothing against the State, nothing outside the State" - Benito Mussolini

    Comment


    • #3
      Originally posted by Lawrence of Arabia
      the whole iberian peninisula is socialist now.
      Spain is only "socialist" thanks to ibn Ladin.
      "I realise I hold the key to freedom,
      I cannot let my life be ruled by threads" The Web Frogs
      Middle East!

      Comment


      • #4
        Good

        Now, let's hope they're actually at least a bit left of the center, unlike the Spanish "socialists"
        "I have been reading up on the universe and have come to the conclusion that the universe is a good thing." -- Dissident
        "I never had the need to have a boner." -- Dissident
        "I have never cut off my penis when I was upset over a girl." -- Dis

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        • #5
          Today Portugal, tomorrow who knows.
          Only feebs vote.

          Comment


          • #6
            How did the stock markets of Portugal react to this ?

            Comment


            • #7
              How did the stock markets of Portugal react to this ?
              I hope it went down. Nothing smells better than a skinned and roasted member of the investor class.

              Down with the pigs.
              Only feebs vote.

              Comment


              • #8
                Socrates
                Blah

                Comment


                • #9
                  Ancient Greek paedophiles.
                  Only feebs vote.

                  Comment


                  • #10
                    Originally posted by Heresson


                    Spain is only "socialist" thanks to ibn Ladin.
                    Oh.

                    How many times did he vote in the Spanish election?
                    Vive la liberte. Noor Inayat Khan, Dachau.

                    ...patriotism is not enough. I must have no hatred or bitterness towards anyone. Edith Cavell, 1915

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                    • #11
                      Originally posted by aneeshm
                      How did the stock markets of Portugal react to this ?
                      I expect it to have gone down. I can't recall any time when the stock market went up immediately after a switch in power (whether to the right or the left). The stock market likes stability and continuity. When the continuity is broken, the investors generally remain cautious until the new government licks their boots.
                      "I have been reading up on the universe and have come to the conclusion that the universe is a good thing." -- Dissident
                      "I never had the need to have a boner." -- Dissident
                      "I have never cut off my penis when I was upset over a girl." -- Dis

                      Comment


                      • #12
                        Originally posted by Spiffor
                        Good

                        Now, let's hope they're actually at least a bit left of the center, unlike the Spanish "socialists"
                        Those Spanish "socialists" sound a bit like Blair the "socialist"
                        Speaking of Erith:

                        "It's not twinned with anywhere, but it does have a suicide pact with Dagenham" - Linda Smith

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                        • #13
                          Besides, down with stock markets, what kind of means of running the welfare of a planet are they anyway?
                          Speaking of Erith:

                          "It's not twinned with anywhere, but it does have a suicide pact with Dagenham" - Linda Smith

                          Comment


                          • #14
                            I posted the question because the Indian stock market crashed after an anti-reform government came in . Of course , seeing that it was the small investor who was hit , the anti-reform government selected a pro-reform prime minister and finance minister . That did the job .

                            After that , the markets recovered , and are running at a historic high ( one never reached before in Indian history ) . And the next budget is expected to open up the economy and loosen controls and lower taxes even further , so I can expect it to rise even higher .

                            Looking as to the fact that it is the anti-production socialists who have got into power in there , I can expect the trend of the destruction of wealth to continue . My sympathies go out to the people who did not vote for extortionists .

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                            • #15
                              Originally posted by Provost Harrison
                              Besides, down with stock markets, what kind of means of running the welfare of a planet are they anyway?


                              Vilnius, trailing 12 months
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