This material may not be published, broadcast, rewritten, or redistributed. ยฉ2026 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by LSEG.
LISBON, Portugal โ Portugal's new government is facing what are likely to be its final hours in power as anti-austerity forces in Parliament prepare to force its resignation.
The showdown Tuesday comes less than two weeks after the center-right government was sworn in. It is outnumbered by left-of-center lawmakers in Parliament, and they vow to unseat it by rejecting its policy proposals. A rejection compels the government to stand down.
The Socialist Party has forged an alliance with the Communist Party and the radical Left Bloc to take power. They intend to reverse pay and pension cuts and increase government spending, though they haven't said where the money will come from.
After Greece, debt-heavy Portugal is the latest eurozone country to witness a backlash against austerity measures adopted amid Europe's recent financial crisis.