The Socialist government in Portugal has resigned.

Yesterday, Prime Minister José Sócrates presented the government’s plan to manage Portugal’s banking and debt crisis to parliament. Five motions against the so-called Programa de Estabilidade e Crescimento (PEC) measures were proposed, one by each of the main opposition parties. All five motions were passed.

PM Sócrates went on television following the vote to announce the resignation of his government. President Cavaco Silva is likely to meet with the various parties to discuss whether a new administration can be formed or whether there should be early elections. The previous election was held in September 2009.