Tag: José Sócrates

• Tuesday, May 3rd 2011 - 22:52 UTC

  Portugal reaches agreement with EU and IMF for 116 billion dollars bail-out

  

  Portugal’s caretaker Prime Minister Jose Socrates announced Tuesday that he has reached agreement on a bail-out from the EU and the International Monetary Fund. He said the three-year loan was a “good agreement that defends Portugal”.

• Thursday, April 7th 2011 - 09:11 UTC

  Portugal admits the facts, formally requests a bailout from the EU

  

  Portugal's caretaker government said on Wednesday it had decided to seek financing from the European Union in an abrupt turnaround after resisting a bailout for months despite sharply deteriorating financial conditions.

• Thursday, March 24th 2011 - 19:59 UTC

  Portugal has Euro zone on the brink; bail out package considered at EU summit

  

  EU leaders are grappling with a new Euro zone threat after Portugal's parliament rejected an austerity budget and PM Jose Socrates resigned. The vote means an international bail-out, similar to those accepted by Greece and the Irish Republic last year, is now far more likely.

• Friday, May 14th 2010 - 04:40 UTC

  Portugal Joins Euro Belt-Tightening Bandwagon but with Strong Political Support

  

  Portugal has become the latest country to introduce austerity measures, after both Greece and Spain took similar steps to stabilize public finances in the face of massive debt.