Portugese finance and foreign ministers resign
Portuguese in fiscal crisis continuing and catalyst expecting at right moment fails.
The foreign minister of deficit-ridden Portugal, Paulo Portas has handed in his resignation to the Prime Minister, following the finance minister stepping down. Portugal has been trying to rebuild its economy by pushing austerity measures such as tax increases and a reduction in the number of public servants. The nation has been receiving loans totaling 78 billion euros from the EU and other organizations. On Monday, Finance Minister Vitor Gaspar stepped down, saying he had drawn public criticism. He had been a major driving force behind the government’s austerity measures.
Prime Minister Pedro Passos Coelho named a new finance minister to continue the austerity measures. Foreign Minister Portas opposed the move and resigned in protest.
Portuguese opposition camp is pressing for dissolving parliament and holding a general election. Prime Minister Coelho stressed in a speech on Tuesday said that he had no intention of dissolving parliament. He also said he will not accept the foreign minister’s resignation and will try to persuade him to stay in office.
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