Popular Posts
- POLAND: Warsaw Lauds LOT Pilot Wrona For Safe Crash Landing.
- SERBIA / LIBYA : Are Serbian Mercenary Pilots Bombing Protestors In Tripoli?
- HONDURAS : 4 Nov. UPDATE: 176 Police Arrested For Corruption; Lobo Sacks His Top Cops...Sends Troops Into Sula, Tegucigalpa.
- COLOMBIA: Corrupt Police Aided Bogota's Fake Torture Brothel.
- PERU: Chaos Reigns In Lima's Streets With Unregulated Taxis And Ancient Buses.
- CHILE / CANADA : Court Suspends Barrick Gold Pascua Lama Mine Production.
- SERBIA / KOSOVO / EU : President Nikolic Talks Tough About Pristina.
- ITALY / EUROZONE : New Greek Crisis Delays Berlusconi's Love Songs CD Release.
- MEXICO : Zetas Founder/ Leader "Lucky" Hernandez Lechuga Captured In Veracruz.
- USA : 07 May UPDATE: Famous Fat Cat Meow...Dies On Diet.
06 April 2013
PORTUGAL/ ECB / IMF : 09 April UPDATE: EC Withholds 2 Billion Euros Tranche After High Court Strikes Down Parts Of Austerity Budget.
New facts in italics.
In Lisboa...the Constitutional Court had ruled against 4 of 9 contested measures in the nation's 2013 austerity budget.
It meant the loss of 1.3 billion euros in savings...required by the Troika's $101 billion bailout in 2011.
Center right PM Coelhos must now find new money sources...or renegotiate with the fiscally demanding Troika.
Some economists say that the shortfall is manageable.
Others expect it will be necessary to cut wages and pensions...highly sensitive areas.
The EC announced it is withholding a 2 billion euros tranche due this month...until Lisboa unearths 1.3 billion euros in new spending cuts...that the court struck down.
http://www.bbc.co.uk/news/world-europe-22048169