"The current economic crisis in Portugal is the worst the country has seen since the 1970s, showing that the political crisis in the eurozone is not yet over. With nearly 18% of the population unemployed, Portugese residents with higher education have resorted to leaving the country to seek job opportunities abroad.
Politicians and ministers are under constant pressure due to the economic crisis, as a result two of the leading ministers have resigned. Finance Minister Vitor Gaspar and Foreign Minister Paulo Portas, announced their resignation in the midst of the critical situation and negotiations over austerity reforms.
Jeroen Disjsselbloem, the eurozone Finance Minister, called for Portugal to take responsibility for the current political instability. If the situation is not resolved as soon as possible it could threaten the financial credibility of Portugal as a country and member of the eurozone.
Though the government has shown commitment following some of the Brussels/Berlin reform suggestions by appling tax rises and budget cuts, Portugal will struggle to find political stability. If the financial credibility will be jeopardised by the current political instability it would be damaging for the Portuguese people as there were beginning signs of economic recovery."