Jose Socrates News
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Following is a timeline of Europe’s debt crisis from the signing of the Maastricht Treaty to today’s European Central Bank press conference.
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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.
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Portugal moved closer to an international bailout as Prime Minister Jose Socrates ’s offer to resign left his government in limbo on the eve of a European Union summit to address the region’s debt crisis.
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Portuguese Prime Minister Jose Socrates said he presented his resignation after parliament rejected the government’s deficit-cutting stability and growth program.
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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.
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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.
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The euro slumped against most of its major counterparts as Portugal’s parliament rejected a deficit-cutting plan and the country’s debt yields reached record highs.
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Portuguese President Anibal Cavaco Silva may call early elections for June, close to the date of a key bond redemption that may determine whether Portugal seeks an international rescue.
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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.
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Portuguese Prime Minister Jose Socrates will not reshuffle his cabinet, Expresso reported, citing unidentified people in the prime minister’s office.
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