by ZeroHedge News Staff at ZeroHedge
In the latest demonstration of a broad swing to the political right among the peoples of Europe, a tight parliamentary election in Portugal has ended with the Socialist Party conceding that its 8-year grip on power has ended. A center-right coalition emerged with a thin edge, while a populist, anti-immigration, tough-on-crime party emerged as a major force.
With 99% of votes tallied, the center-right AD coalition had 79 seats to the Socialists’ 77. But the biggest storyline is the phenomenal surge by the populist Chega party, which is suddenly the third-largest in Portugal, despite having been founded less than five years ago.
The AD party won a plurality, but not enough of the 230 total seats to create a new government on its own. Luis Montenegro, who leads the Social Democratic Party — the largest in the victorious AD coalition — has repeatedly promised he wouldn’t form a ruling coalition with Chega, whose positions he has characterized as “often xenophobic, racist, populist and excessively demagogic” He forcefully reiterated his stance after Sunday’s results were posted. “Of course I will keep my word,” said Montenegro. “I would never do such evil to myself, my party and my country as to not fulfill the commitments I made so clearly.”
On the other hand, citing the results, Chega leader Andre Ventura said his party has a rightful place in a new ruling coalition. “We are available to provide a stable government in Portugal,” he said. “AD asked for a majority. Today the Portuguese spoke out and said they want a two-party government from AD and Chega.”
The Socialist Party could Montenegro box Chega out of the process,…