Portugal PM issues bailout warning

Pedro Passos Coelho says his country faces deep public spending cuts after court rejects budget measures.

    Portugal's Prime Minister has addressed the nation after a crisis was triggered over his government's proposed austerity cuts.

    Pedro Passos Coelho said that he respected but disagreed with a decision by Portugal's highest court to reject its proposed austerity measure.

    Passos Coelho said it would have consequences for the entire country and threatened the nation's position in the eurozone.

    The constitutional court's decision deprives the government of about $1.7bn of expected revenue.

    Nadim Baba reports.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    'We scoured for days without sleeping, just clothes on our backs'

    'We scoured for days without sleeping, just clothes on our backs'

    The Philippines’ Typhoon Haiyan was the strongest storm ever to make landfall. Five years on, we revisit this story.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    Unification: Saladin and the Fall of Jerusalem

    Unification: Saladin and the Fall of Jerusalem

    We explore how Salah Ed-Din unified the Muslim states and recaptured the holy city of Jerusalem from the crusaders.