Portugal PM says austerity rejection a 'huge frustration'

A woman passing by a closed store in Fanqueiros street in Lisbon downtown, on January 6, 2014Portugal’s prime minister on Saturday vowed to overcome the “huge frustration” posed by the constitutional court’s rejection of austerity measures in Lisbon’s 2014 budget. Portugal’s highest court on Friday turned down three out of four measures brought in by the centre-right government as part of ongoing cutbacks after the country exited an international bailout two weeks ago. We will announce at the appropriate time how we will overcome this huge frustration,” said Pedro Passos Coelho. The decision by Portugal’s constitutional court is expected to cost Lisbon between 500 and 800 million euros ($670 million-$1 billion), according to media estimates.

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