Portugal PM Jose Socrates resigns after budget rejected

Portuguese Prime Minister Jose Socrates has resigned after parliament rejected an austerity budget.

The defeat is likely to trigger a bailout similar to the rescue packages Greece and the Republic of Ireland had to accept last year.

All five opposition parties voted against the austerity measures, which included spending cuts and tax rises.

Mr Socrates had earlier said he would no longer be able to run the country if the budget was not adopted.

Chris Morris reports.