Portugal's Foreign Minister Paulo Portas resignsJuly 2, 2013 - 21:56 AMT PanARMENIAN.Net - Portugal's Foreign Minister Paulo Portas has resigned, the president's office said on Tuesday, July 2 in a further blow to the center-right coalition that has kept the country's international bailout on track, Reuters reported. Finance Minister Vitor Gaspar, the architect of the spending cuts and tax hikes required by the bailout, resigned on Monday citing the growing erosion of public support for the program. Portas heads the rightist CDS-PP party and without its support, the government would lose its majority in parliament. "It looks like the end-game for the government," said Antonio Costa Pinto, a political scientist. "There is a possibility of the government staying on in minority with conditional support from CDS-PP, but the opposition will demand a new election and the president will be in a difficult situation." Portuguese bond prices fell sharply after the announcement, with the returns investors demand to hold 10-year bonds rising 35 basis points. The news weighed on the euro. Portas has been at odds with Prime Minister Pedro Passos Coelho and Gaspar over their adherence to the terms of the 78 billion euro ($102 billion) bailout, which has sent the country into its deepest recession since the 1970s. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |