Portuguese foreign minister resigns

“I presented my resignation this morning…My decision is irrevocable,” Portas said in a statement on Tuesday, while expressing frustration over the bailed-out country’s austerity policies.

The decision came after Prime Minister Pedro Passos Coelho assigned Maria Luis Albuquerque as the country’s new finance minister, replacing Vitor Gaspar who quit on Monday.

“I respect (Albuquerque’s appointment) but disagree with it,” Portas said, warning that remaining in the government would be “politically unsustainable.”


The Portuguese government has experienced a breakdown in functions recently over the country’s financial strategy to increase tax and public sector pay cuts.

Portugal is attempting to raise enough revenues in order to meet goals under the bailout from the European Union and the International Monetary Fund (IMF).

The country is grappling with its worst recession since the 1970s, and the Portuguese economy is forecast to shrink by 2.3 percent this year, with unemployment rate expected to exceed the all-time high of 18 percent.

In April, the government was forced to revise its 2013 austerity plans after the Constitutional Court rejected several proposed cuts.

GMA/PR

Source Article from http://www.presstv.ir/detail/2013/07/02/311928/portuguese-foreign-minister-resigns/

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