Passos Coelho

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Spain Calls Elections With One Eye On Portugal

Fernando Barciela | Passos Coelho won the elections in Portugal with 38.6% of the vote, but lost his majority in parliament. Even though he has been tasked with forming a new government, Portuguese left parties have adopted a pragmatic approach which makes an agreement between the Socialist Party, Communist Party and Bloco de Esquerda increasingly likely. For the time being, they have already appointed Eduardo Ferro Rodrigues, a socialist, as the President of the parliament.


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Portugal: Lisbon resilient, yields calmed, citizens exhausted

MADRID | OP-ED by Fernando Barciela | Laconic and without any fuss, PM Pedro Passos Coelho announced that three years after the €78 billion bailout Portugal will stand on its feet without the European Troika. His  pledge aimed to get political momentum at the upcoming European elections, although it greatly stirred public anger. The rate on 10-year securities slid two basis points to 3.61 percent, from a record 18.29 percent in January 2012, according to Bloomberg data. Investors betting on Portuguese bonds have seen a 15 percent return this year through May 2.