Portuguese MPs back austerity budget

Portugal approved a tough austerity budget for 2011 on the 26 November 2010, hoping to persuade nervous financial markets that the country can overcome its sovereign debt difficulties without following Greece and Ireland in seeking an international financial bail-out.

European Commission President Jose Manuel Barroso dismissed reports that Portugal was next in line for a financial rescue package.

ESO: Background information: Portuguese unions strike over austerity plan http://www.europeansources.info/record/portuguese-unions-strike-over-austerity-plan/

EUObserver, 26.11.10: Portugal 'absolutely' not under pressure, say leaders http://euobserver.com/9/31364

BBC News, 26.11.10: EU denies Portugal in line for aid package http://www.bbc.co.uk/news/business-11845046

Deutsche Welle, 26.10.10: Portugal and Spain deny need for bailout amid fresh market jitters http://www.dw-world.de/dw/article/0,,6271382,00.html

European Commission: MEMO/10/623: Statement by EU Commissioner for Economic and Monetary Affairs Olli REHN on the approval of 2011 Budget by the Portuguese Parliament http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/10/623&format=PDF&aged=0&language=EN&guiLanguage=en

France24, 26.11.10: Portugal denies bailout pressure, approves austerity measures http://www.france24.com/en/20101126-portugal-parliament-approves-austerity-budget-strike-denies-bailout-euro-eu-imf

EUObserver, 26.11.10: Eurozone to Portugal: Sacrifice yourself to save Spain http://euobserver.com/9/31362

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