Another Europe News
Portugal preparing for austerity after loan agreed
There are tough times ahead for people in Portugal as they come to terms with the 78 billion euro bailout deal agreed by the government. Spending cuts and tax increases will mean recession at least until 2013.
People on the streets of Lisbon are not impressed with the settlement. “I’d rather not be here to witness all this. I feel sorry for the younger generation,” said one woman.
Another man sarcastically paid tribute to Portugal’s politicians and said he is paying a premium to live in the country.
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