Author Topic: 1000s of Portuguese protest against austerity cuts  (Read 498 times)

0 Members and 1 Guest are viewing this topic.

Offline Rudi Jan

  • Administrator
  • Veteran
  • **
  • Posts: 15352
  • Karma: +2/-0
  • aka LoneWolf
    • View Profile
    • FauxWorld
1000s of Portuguese protest against austerity cuts
« on: October 26, 2013, 06:42:11 PM »
1000s of Portuguese protest against austerity cuts

Sat Oct 26, 2013 10:15PM GMT

Thousands of Portuguese have staged demonstrations against harsh austerity measures imposed by the government under the country's international bailout agreement.

On Saturday, the protesters gathered in the old center of the capital Lisbon and marched towards parliament, protesting against new wage and pension cuts planned in the country's 2014 budget.

The bill includes the cutbacks the country has agreed to implement under the terms of its 78-billion-euro ($108 billion) bailout package.

The demonstrators waved banners and signs demanding the resignation of the government and a referendum on Portugal’s euro membership.

Similar protests were also held in the northern city of Porto and 12 other towns across the country.

The demonstrations were organized by a civic movement known as "Get lost, Troika” -- a reference to the troika of international lenders, the International Monetary Fund, the European Commission and the European Central Bank.

“The only aim of the austerity policies is to cut salaries and pensions, impoverish the population and dismantle the public services," the civic movement said in a statement issued on Saturday.

The protesters were also chanting slogans against the international lenders, such as "No to the troika, no to hunger."

The long-drawn-out eurozone debt crisis, which began in Greece in late 2009 and later on reached Italy, Spain, France, Portugal, Britain, Ireland, and Cyprus is viewed as a threat not only to Europe but also to many of the world’s other developed economies.

The worsening debt crisis has forced EU governments to adopt harsh austerity measures and tough economic reforms, which have triggered massive demonstrations in many European countries.

Battered by the global financial downturn, the Portuguese economy fell into a recession, which compelled the country to negotiate with the international lenders for a bailout loan in 2011.
Suspend all belief. Get the facts ~ Rudi
No one rules if no one obeys ~ Lao Tzu