Prime Minister Resigns EU Bailout Looms as Portugal Government Collapses

Portugal's Prime Minister Jose Socrates has resigned after the country's parliament rejected his latest package of austerity measures. His move makes it more likely that the cash-strapped nation will have to ask the European Union for a bailout.
Portugal's Prime Minister Jose Socrates announced his resignation on Wednesday evening.

Portugal's Prime Minister Jose Socrates announced his resignation on Wednesday evening.

Foto: PATRICIA DE MELO MOREIRA/ AFP