ML-Implode News - Eurozone crosses Rubicon as Portugal's anti-euro Left banned from power (NO CONFIDENCE VOTE LOOMS)

Anibal Cavaco Silva, Portugal's constitutional president, has refused to appoint a Left-wing coalition government even though it secured an absolute majority in the Portuguese parliament and won a mandate to smash the austerity regime bequeathed by the EU-IMF Troika... "After we carried out an onerous programme of financial assistance, entailing heavy sacrifices, it is my duty, within my constitutional powers, to do everything possible to prevent false signals being sent to financial institutions, investors and markets," he said.
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The Socialist leader, Antonio Costa, has reacted with fury, damning the president's action as a "grave mistake" that threatens to engulf the country in a political firestorm.
"It is unacceptable to usurp the exclusive powers of parliament. The Socialists will not take lessons from professor Cavaco Silva on the defence of our democracy," he said.

Mr Costa vowed to press ahead with his plans to form a triple-Left coalition, and warned that the Right-wing rump government will face an immediate vote of no confidence. There can be no fresh elections until the second half of next year under Portugal's constitution, risking almost a year of paralysis that puts the country on a collision course with Brussels and ultimately threatens to reignite the country's debt crisis.

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Eurozone crosses Rubicon as Portugal's anti-euro Left banned from power (NO CONFIDENCE VOTE LOOMS)