Socialist Worker

Portugal sinks into the red

Issue No. 2278

The recession is getting worse in Portugal, one of the most vulnerable countries in the eurozone.

Figures released on Monday showed that the Portuguese economy shrunk by 1.7 percent compared to the third quarter last year.

This situation is made worse by the government’s plans to drive through austerity measures in return for a 78 billion euro bailout.

Portugal’s trade unions have called a 24 hour general strike on Thursday of next week in protest against the cuts.

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