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The Portuguese Supreme Court has ruled that four out of nine points in the government's austerity budget are unconstitutional. The court was asked to make a judgement at the request of the President of the republic, Anibal Cavaco Silva. (A man who shows more teeth than a crocodile when he smiles, which is entirely too often.)
This means that the government will not be able meet the conditions of a bailout by the so-called Troika, which it received earlier. There will be a shortfall of savings on the order of 1.2 billion euros, and new measures will have to be adopted, or the country's leaders will have to see if the Troika will revise the terms of the bailout.
The President made a point of saying that this did not mean as far as he was concerned that the government of Pedro Passos Coelho should resign, especially as it had already survived a no-confidence vote.
Nevertheless, there's still the scratch to come up with.
Basically the governamnt will have to meeet the terms with other measures or perhaps leave the euro.One has to realise that the geramn courts have approved the trems that germnay;s governamtn voted for. It means that they need to come upo with a new plan to meet the terms as german elections are coming up.Geramny is the real financer of the bailouts by large amrgin.
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