Portugal's government is facing a potential collapse after a debate began on Wednesday that may lead to a change in leadership. The current head of the government is apart of a Socialist party, which is in the minority. The issue in question was if the government would allow/force different government agencies to develop austerity measures to save their the economy.
"All opposition parties have proposed resolutions calling for the rejection of the measures, which reduce pensions and state spending"
The question here is whether this will put Portugal at risk of having to ask to be bailed out, in a similar fashion as Greece and Ireland has recently had to do. Portugal is apart of the European Union and it's financial crisis is affecting the value of the Euro, which is a concern as the Yen is struggling as well currently, following the disaster in Japan.
"The government had hoped to obtain support for its plan before Thursday's EU summit, to reduce market pressure on Portugal's sovereign debt."
"All opposition parties have proposed resolutions calling for the rejection of the measures, which reduce pensions and state spending"
The question here is whether this will put Portugal at risk of having to ask to be bailed out, in a similar fashion as Greece and Ireland has recently had to do. Portugal is apart of the European Union and it's financial crisis is affecting the value of the Euro, which is a concern as the Yen is struggling as well currently, following the disaster in Japan.
"The government had hoped to obtain support for its plan before Thursday's EU summit, to reduce market pressure on Portugal's sovereign debt."
and if they economies fail ours continues to do the same :(
ReplyDeletePortugal faces many challenges
ReplyDeleteNot only Portugal, but all of the EU. It's only a matter of time before they suffer a complete depression.
ReplyDelete