Portugal Throws Open Europe’s Them-And-Us Divide Over Austerity

Portugal Throws Open Europe’s Them-And-Us Divide Over Austerity

Francisco Seco/AP Photo

Facing another 2.3 percent contraction in the economy this year, Passos Coelho has pledged no more tax increases and said last month that his government would focus on reducing spending to generate 4.8 billion euros through 2015.