Despite Ministerial Resignations, Portugal Illustrates Stability

Despite Ministerial Resignations, Portugal Illustrates Stability

Portugal appeared to be on the brink of government collapse last week after a string of unexpected ministerial resignations. But so far, the coalition government under Prime Minister Pedro Passos Coelho has survived.

Jacob Funk Kirkegaard, senior fellow at the Peterson Institute for International Economics, said that Portugal, which has faced three years of recession and has imposed unpopular austerity measures under the terms of a European Union bailout, is more notable for its stability than its turmoil.

“This recent political crisis is fundamentally driven by political positioning, not driven by people on the street saying enough is enough, and therefore in my opinion the message from Portugal and the other peripheral [European] countries including Greece is actually one of remarkable political stability,” he said.

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