Portugal's prime minister denies financial misconduct allegations that brought political storm
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Portugal's prime minister has denied allegations of financial misconduct, telling Parliament the accusation that he had undeclared income when he was a lawmaker in the 1990s was an attempt to deceive people.
The allegations caused a storm in recent days, endangering the eurozone country's political stability as it limps out of a financial crisis and three-year recession.
Pedro Passos Coelho said Friday he will publish tax returns showing his earnings. However, he refused a demand from the main opposition Socialist Party to waive banking secrecy laws and grant access to his bank accounts.
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Prosecutors said late Thursday they won't pursue the anonymous accusation that Passos Coelho received 75,000 euros ($95,000) in undeclared payments from a consultancy company from 1995-1999 because the statute of limitations had expired on any possible wrongdoing.