LISBON, Portugal — Portugal's government could collapse Wednesday after opposition parties withdrew their support for another round of austerity policies aimed at averting a financial bailout. The expected defeat of the minority government's latest spending plans in a parliamentary vote will likely force its resignation and could stall national and European efforts to deal with the continent's protracted debt crisis. The vote comes on the eve of a two-day European Union summit where policymakers are hoping to take new steps to restore investor faith in the fiscal soundness of the 17-nation eurozone, including Portugal. Last year, both Greece and Ireland had to accept massive rescue packages after markets lost faith in their governments' efforts to deal with their debt burdens. The political tension fueled a rise in Portugal's borrowing rates, just as it is trying to cut spending.

BING NEWS:
  • Opinion | The Populist Right Rises in Portugal
    It ushered in what political scientist Samuel Huntington called democracy’s third wave, when dozens of countries made the transition to self-government between the mid-1970s and early 2000s.At a ...
    06/4/2024 - 5:29 am | View Link
  • New Zealand government presents austerity budget amid nationwide protests
    The budget, which slashes spending on social programs to fund tax cuts for the rich and free up money for war preparations, was met by large-scale protests.
    06/2/2024 - 4:56 pm | View Link
  • Portuguese Stalinists, pseudo-left ally with big-business PS to protect right-wing government
    The BE and PCP aim to subordinate the working class to the PS, to block a movement against the new PSD government, fascism, the Gaza genocide and the NATO war on Russia.
    06/2/2024 - 4:23 pm | View Link
  • SNP’s Swinney warns general election will be ‘the biggest challenge for years’ – UK politics live
    Shadow home secretary says Labour would examine ‘offshore processing arrangements’. Cooper refuses to rule out off-shore processing or sending asylum-seekers to have their claims processed abroad ...
    06/2/2024 - 12:01 am | View Link
  • Economic collapse imminent? IMF blasts U.S. over unsustainable debt taking
    The U.S. national debt has seemingly grown so large - and is growing at such a pace - that the IMF issued an uncommonly strong rebuke.
    05/30/2024 - 11:22 pm | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News