Portugal's government struggling with deficit

After Portugal's Constitutional Court vetoed the government's austerity measures the latter sees itself forced to look for alternative solutions for balancing the country's budget deficit. The business paper Jornal de Negócios calls for swift action: "Finance Minister Gaspar has already given it to be understood that the current programme for reaching the deficit target must be adjusted, without calling the time plan into question. Our Prime Minister has promised that there are no plans for tax hikes. … Any solution will require difficult negotiations with the troika. The next inspection by the creditors isn't until August, but to wait with the plans that long would be a mistake because the financial markets will tolerate no uncertainty. … The government should head them off by negotiating a solution now that can be presented to the Portuguese and the markets."

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