Portugal’s prime minister resigns

Portuguese Prime Minister Jose Socrates has resigned after parliament rejected an austerity budget in order to prevent that Portugal resort to external aid.

Izvor: BBC

Thursday, 24.03.2011.

09:50

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Portuguese Prime Minister Jose Socrates has resigned after parliament rejected an austerity budget in order to prevent that Portugal resort to external aid. The plan was similar to the rescue packages Greece and Ireland had to accept last year. Portugal’s prime minister resigns All five opposition parties voted against the austerity measures, which included spending cuts and tax rises, BBC reported. Socrates had earlier said he would no longer be able to run the country if the budget, the fourth package of austerity measures in a year, was not adopted. The vote late on Wednesday came on the eve of a European Union summit to finalize a eurozone debt crisis plan. Elections in Portugal will probably take place in a few months.

Portugal’s prime minister resigns

All five opposition parties voted against the austerity measures, which included spending cuts and tax rises, BBC reported.

Socrates had earlier said he would no longer be able to run the country if the budget, the fourth package of austerity measures in a year, was not adopted.

The vote late on Wednesday came on the eve of a European Union summit to finalize a eurozone debt crisis plan.

Elections in Portugal will probably take place in a few months.

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