Portugal’s Prime Minister Jose Socrates has stepped down after his government’s latest austerity package was rejected in parliament. Now the country is on the brink of bailout... To discuss this issue, our guest is Olivier Leroy, CEO of Detroyat Associés.
Following the resignation of Portugal's Prime minister, a bailout request seems inevitable. Will the country follow in the path of Ireland and Greece? To discuss these issues, France 24's Tom Burges Watson spoke to Jean Pisani-Ferry, Director of Bruegel, a European think tank based in Brussels.
Portugal's Prime Minister Jose Socrates resigned Wednesday after the parliament shot down his new austerity plan, increasing the chance Lisbon will seek a bailout. The move came as EU ministers in Brussels prepare to tackle the eurozone debt crisis.
Portugal’s parliament voted against the minority government’s latest round of austerity measures Wednesday, setting the stage for the resignation of Prime Minister Jose Socrates (pictured).
While Europe and the IMF rush to Ireland’s aid, Portugal is sinking deeper into crisis. Faced with the country’s economic difficulties, the government has announced an unprecedented austerity plan: VAT is to go up, civil servants’ salaries are to be frozen or even cut, and benefits are to be reduced too. These austerity measures are causing anxiety among the population, already confronted with hard times.
The Socialists of Prime Minister Jose Socrates (pictured) have won Portugal's general election, though falling short of an absolute majority in parliament, exit polls say.
Portuguese voters head to the polls on Sunday in a general election overshadowed by economic woes. Prime Minister Jose Socrates (photo) has promised reforms to try to jump-start one of Western Europe’s poorest economies.
José Socrates 
