Portugal Votes To Reject Austerity, And The Euro Is Tanking

Jose Socrates

Just happening now.

Portugal has voted to reject austerity measures.

Next question now is whether the PM resigns.

This was likely in the cards since earlier this week when the opposition announced its intent to oppose the plan.

Tomorrow is an EU summit, and it’s not clear who the leader of Portugal will be.

Don’t miss: The latest on the debt situation in Portugal and the rest of Europe >

The euro is diving on the news:


NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.