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Portuguese protesters hold anti-austerity rally in Lisbon

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Portuguese workers protest in a demonstration against the government’s austerity measures, Lisbon, June 16, 2012.

People in Portugal have staged a protest rally against the government’s austerity measures imposed to help cap the country’s public debt.

Thousands took to the streets of Lisbon on Saturday following a much larger rally in the northern city of Oporto last week.

They condemned the center-right government’s financial policies, which are in place to fulfill conditions set by the European Central Bank and International Monetary Fund in return for a 78-billion-euro (USD-97-billion) loan.

The protesting workers argued that the budget cuts will cause Portugal to “go under.”

Portugal’s main CGTP union is opposed to changes in labor law reforms adopted by parliament in May, which canceled a number of public holidays and made it easier to fire workers.

Portugal expects economic activity to contract by 3.0 percent this year after dropping by 1.6 percent in 2011.


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One Response to " Portuguese protesters hold anti-austerity rally in Lisbon "

  1. Jack Longchamp says:

    So are they expecting their own banks to raise their credit levels again vs. NO substance or just a direct gift from Germany now ?

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