Dominique Strauss-Kahn, the embattled managing director of International Monetary Fund, resigned Wednesday, saying he wanted to devote "all his energy" to battle the sexual assault charges he faces in New York.
The IMF's executive board released a letter from the French executive Wednesday in which he denied the allegations lodged against him but said that with "sadness" he felt he must resign. He said that he was thinking of his family and that he wanted to protect the IMF.
Striking unions in Portugal are protesting the government's austerity measures. Parliament is expected to vote on the plan Friday. Portugal is one of the European countries facing massive problems caused by its national debt. Many Portuguese are angered by the government's plans to freeze pensions and cut the wages of civil servants by five percent.