Everybody knows that politicians will have, almost inevitably, a difficult relationship with the truth. But the latest developments in Portugal's political life increasingly remind me of Orwell's "1984" and the sudden shift in alliances there between Oceania, Eurasia and Eastasia - while, at the same time, the ruling class got to persuade the people that the ally had always been the same.
The "problem", of course, is that we aren't in the totalitarian world of "1984". Whoever is willing to spend a few minutes on the internet can easily expose many recent, glaring reversals in policy goals over a period of only a few months (for instance, here, here and here).
Even if one can leave aside issues about the strength of political convictions (which are irrelevant from the point of view of the hard-nosed international markets), questions about credibility become increasingly more pertinent: Can the European Commission (and/or Germany) really pretend to believe a program of reforms such as a 17-slide PEC IV which, at least in some areas, is in complete contradiction with what were regarded as fundamental principles for many years up to just a few months ago?