His resignation throws the Portuguese political system into chaos after a failed attempt of avoiding a bailout. The growing concerns were that similar to Greece and Ireland; the other two countries in Europe to have recieved a bailout. This leaves his government in control during the summit in Brussels over the European bailout.
The main opposition Social Democrats, who have previously backed austerity, said they want an election, hoping that the center-right party's lead in opinion polls will bring it to power.
This is all the result of the parliment rejected Socrates' latest austerity measures. All opposition parties voted against the measures in the 230-seat parliament, where the Socialists have 97 seats.
"The prospect of a bailout has risen drastically and is now enormous," said Filipe Garcia, head of Informacao de Mercados Financeiros consultants in Porto.
No comments:
Post a Comment