Demonstrators tried to approach the Portuguese Parliament in Lisbon yesterday as workers staged a general strike to protest austerity measures that caused deep pay cuts and job losses.
(Rafael Marchante/Reuters)
Portugal’s bonds cut to junk status
Workers strike against tough austerity moves
Demonstrators tried to approach the Portuguese Parliament in Lisbon yesterday as workers staged a general strike to protest austerity measures that caused deep pay cuts and job losses.
(Rafael Marchante/Reuters)
Portugal’s efforts to climb out of its economic crisis suffered a double setback yesterday as its credit rating was downgraded to junk status and a major strike gave voice to broad public outrage over austerity measures that have squeezed living standards. Portugal’s deepening plight underlined Europe’s difficulties in finding a way out of the continent’s government debt crisis which has recently shown alarming signs of spreading to bigger nations, most notably Italy.
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