ELE VISTO POR ELES: Costa, um artista no jogo de pés

«António Costa, the country’s anti-austerity prime minister, has gained a reputation for fancy political footwork. But the 2017 budget that his minority Socialist government has to deliver tomorrow will play to a tough audience. In order to make it through the parliament, it has to please hard-left allies pressing for more government spending. But it must also cut the deficit sharply in order to avoid a clash with Brussels. Investors who fear Portugal could stumble towards a second bailout—a notion dismissed as “nonsense” by Mr Costa—will be watching nervously. One of the most telling verdicts on the prime minister’s performance will follow next week, when DBRS, a Canadian credit-rating agency, decides if it will downgrade Portugal’s only investment-grade rating. That could remove the safety net of the European Central Bank’s government bond-buying programme, and make Mr Costa’s tightrope-walking even more precarious.»

The Economist Espresso