Portugal stocks plunge on crisis

Written By Unknown on Rabu, 03 Juli 2013 | 15.21

PORTUGUESE share prices plummeted six per cent in early trading after the resignations of the foreign and finance ministers threw the government's survival into doubt.

The Lisbon stock exchange's key index plunged 5.99 per cent to 5,199.01 points at 0730 GMT.

The latest bout of unease were triggered by the resignation of two ministers this week over tough budget cuts that have sharply reduced living standards in one of the poorest countries that uses the euro.

Foreign Minister Paulo Portas resigned Tuesday evening, a day after the shock departure of Finance Minister Vitor Gaspar.

Portugal is implementing austerity measures in return for its 78 billion euros ($A111.56 billion) international bailout.


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