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Portugal votes on austerity budget

11-25-2010 13:32 BJT

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Portugal's parliament is voting today, on an austerity budget. The country is riddled with a high budget deficit of more than 7 percent of its GDP. There are mounting concerns Portugal could be next in line to undergo a debt crisis, and apply for a bailout - hot on the heels of Ireland.

The Portuguese government wants to quell international unease over the country's public spending, and hopes to reduce the deficit to 4.6 percent of its GDP in 2011.

Editor:Xiong Qu |Source: CNTV.CN

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