Portugal urged to pass austerity plan / Political vacuum increases pressure

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Series Details 25.3.11
Publication Date 25/03/2011
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Portugal’s seemingly inexorable slide into an orderly international financial bail-out in 2011 threatened to become a drawn-out and potentially chaotic process as European Union leaders at the European Council, Brussels, 24-25 March 2011 warned that Lisbon must pass the austerity package that the Portuguese Parliament had rejected earlier in the week before they would consider providing rescue loans.

The collapse of the Lisbon government on the 23 March 2011 meant it could be months before Portugal could implement fresh austerity measures or appeal for an international bail-out.

Related Links
ESO: Background information: Sócrates quits as Portuguese PM http://www.europeansources.info/record/socrates-quits-as-portuguese-pm/
BBC News, 24.3.11: Portugal PM Socrates' resignation overshadows EU summit http://www.bbc.co.uk/news/world-europe-12845668
EUObserver, 25.3.11: 'Euro-plus-pact' agreed amid Portugal crisis http://euobserver.com/9/32062

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