Portugal’s new Socialist party manifesto released today has sent shockwaves straight to Germany where the most powerful nation in the union was relying on Portugal to buckle down and play the game of decades of interest payments and central supervision. With the Greek problem much in Bonn’s sites, any anti-austerity behaviour from junior EU members, especially those with socialist pledges in an anti-austerity election manifesto, causes deep concern that Portugal may follow Greece out of the Euro or, if not, Portugal's lack of financial controls under the Socialists will make a mockery of the whole scheme.
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