Portugal’s prime minister says his debt-ridden country must make deeper spending cuts to meet the requirements of its international bailout after a court ruling overturned some of its austerity measures.

Pedro Passos Coelho told his countrymen in a televised speech Sunday night that the court decision Friday could pose “serious obstacles and risks” for the country. But he ruled out more tax increases to meet the terms of its $101 billion bailout two years ago.

Analysts say the … [Read More]

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Source: VOA News: Economy and Finance