Portugal announces tough budget

Oct 15, 2012, 8:58 PM EDT
A demonstrator takes part in a protest against the Portuguese government's 2013 state budget in front of the Portuguese Parliament in Lisbon on October 15, 2012. The Portuguese government pushed ahead today with a draft 2013 budget that includes massive tax rises and spending cuts, just two days after mass street protests against further austerity.
AFP/Getty Images/PATRICIA DE MELO MOREIRA

Protesters call on ministers to resign after Portuguese government announces tough austerity budget for 2013. Finance Minister Vitor Gaspar said harsh measures, which include steep income tax rises and more spending cuts, were the only way the country could meet its targets under the €78 billion ($100 billion) bailout it got last year. 

YOU MIGHT ALSO LIKE