Portuguese PM to address nation: minister

Portuguese Prime Minister Jose Socrates will address the nation on Wednesday night after parliament rejected his latest austerity plan, Parliamentary Affairs Minister Jorge Lacao said.

Socrates had threatened to resign if he failed to garner support in parliament for the plan.

“The prime minister, who is currently being received by the president, will address the nation,” he told reporters after the parliamentary vote.

All five opposition parties voted against the Socialist government’s fourth cost-cutting plan in a year, aimed at avoiding a multi-billion euro financial bailout like the ones granted Greece and Ireland last year.