Portugal's PM denies allegations of financial misconduct

PanARMENIAN.Net - Portugal's Prime Minister has denied allegations of financial misconduct, telling parliament the accusation that he had undeclared income when he was a lawmaker in the 1990s was an attempt to deceive people.

The allegations caused a storm in recent days, endangering the eurozone country's political stability as it limps out of a financial crisis and three-year recession.

Pedro Passos Coelho said Friday, Sept 26, he will publish tax returns showing his earnings. However, he refused a demand from the main opposition Socialist Party to waive banking secrecy laws and grant access to his bank accounts.

Prosecutors said late Thursday they won't pursue the anonymous accusation that Passos Coelho received 75,000 euros ($95,000) in undeclared payments from a consultancy company from 1995-1999 because the statute of limitations had expired on any possible wrongdoing.