Portuguese shares fall after court blocks spending cuts

This article talks about the fall in the Portuguese shares market on Monday after the court said that spending cuts aimed at cutting debt were unconstitutional. The PSI share index was down by 1.6%. After this response from the court the prime minister said that it would have to make some other deep spending reductions and these would come in a form in reduced social security , health and education.

These cuts were expected to save between 900 million to 1.3 billion euros , but they have been rejected by the court. All these actions have to take place to avoid the country from getting a second euro zone bailout.

http://www.bbc.co.uk/news/business-22061875