PORTUGAL: ‘Political instability causes panic in Lisbon stock exchange’

The Lisbon stock exchange index fell by 3.54 per cent on April 3, triggered by ongoing political instability, despite a vote of no confidence on the government being defeated by 137 votes to 97.

Further turmoil is expected when the constitutional court [gives its ruling on the constitutionality of elements of the 2013 budget and due to the ongoing impact of theCyprus crisis, says the newspaper.

“The nervousness in the national market is evident, caused by the first bailout proposal to Cyprus, combined with the political stalemate caused by the vote of no confidence, the uncertainty over the decision of the Constitutional Court, the rumours of a possible government resignation and the need for a second bailout,” writes the daily.

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