Portugals PM Socrates steps down over austerity rebuff

24th March 2011, Comments 0 comments

Portugal’s Prime Minister Jose Socrates has handed his resignation to President Anibal Cavaco Silva. The Wednesday evening resignation follows the fourth defeat in parliament of his austerity plan. The country is now likely to have to turn to the European Union and the International Monetary Fund for a bailout, which Socrates has warned could prove ...

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