LISBON (Reuters) - Portugal's main opposition Socialists will field a motion of no confidence in the center-right coalition government in a largely symbolic move that reflects growing resistance to bailout austerity amid the worst recession since the 1970s.
The government that has been praised by Brussels for its austerity and structural reforms has a solid majority in parliament and would easily defeat the move as it has defeated three previous such motions filed by smaller left-wing parties.
The previous Socialist government requested the EU/IMF bailout in April 2011. It had been supportive of the bailout goals until a few months ago, but a worsening economic outlook has turned the Socialists against any further austerity. The motion formalizes that stance.
"It is our rupture with the government due to the social and economic tragedy in the country, due to erroneous policies and the government's insistence on carrying them out," Jose Vera Jardim, a spokesman for the party's Political Commission said in televised comments after the commission had met.
He said the commission had voted unanimously in support of the motion, although the party is yet to present it to parliament. Public protests against austerity have grown in the past few weeks.
Political analysts say the motion does not present serious risks to the government, but combined with a possible rejection of some of this year's austerity measures by the Constitutional Court, it could contribute to destabilizing the administration.
Weekly newspaper Sol said on Friday the court could reject up to 1 billion euros worth of taxes and special levies that went into force from January, out of around 5 billion euros in this year's austerity measures, blowing a hole in this year's public accounts.
Portugal is trying to regain full access to the debt market this year in order to exit the bailout program by mid-2014. It successfully issued five-year debt in January in its first bond issuance since the bailout.
Last week, Lisbon's lenders eased its budget goals and gave it more time to make unpopular spending cuts due to a worsening economic outlook. Gross domestic product is expected to drop 2.3 percent this year after last year's 3.2 percent.
(Reporting By Andrei Khalip; Editing by Toby Chopra)
Source: http://news.yahoo.com/portugal-government-faces-symbolic-vote-no-confidence-104247970--business.html
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