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portugal, austerity package
(Image from article: "Portugal Approves Austerity Budget")

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Portugal PM resigns as parliament rejects austerity

Portuguese Prime Minister Jose Socrates resigned Wednesday and warned of grave consequences for the country after parliament rejected his government's latest austerity measures aimed at avoiding a bailout.

 

Portugal Approves Austerity Budget

Portugal Approves Austerity Budget

The budget plan for 2011 is aimed at reassuring nervous lenders that the country can avoid a bailout by meeting its deficit-cutting targets.

 

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