Portugal does not need aid from the International Monetary Fund and no country has ever put pressure on Portugal to request aid, Portuguese Prime Minister Jose Socrates said in an interview with Diario de Noticias.
Portuguese Prime Minister Jose Socrates said a political crisis would harm the country after the Left Bloc political group said it will present a no- confidence motion in parliament next month.
Portuguese Prime Minister Jose Socrates said he presented his resignation after parliament rejected the government’s deficit-cutting stability and growth program.
German Chancellor Angela Merkel said that Portuguese Prime Minister Jose Socrates did the right thing in putting a “far-reaching” program of austerity measures to parliament.
Portuguese bonds fell after Prime Minister Jose Socrates raised the specter of needing a bailout and Moody’s Investors Service cut the country’s debt rating.
Portuguese Prime Minister Jose Socrates said his country does not need any aid, Diario Economico reported, citing comments by Socrates following a meeting with exporters in Lisbon.
Portuguese Prime Minister Jose Socrates said his country does not need to resort to a rescue fund and has conditions to finance itself in the market.
Portugal’s opposition leader, Pedro Passos Coelho , leads Socialist Prime Minister Jose Socrates in polls heading into elections in two days that may enable him to forge a majority coalition.
"The budget deficit will clearly be below forecast."
- Jose Socrates on Jan 11, 2011