IMF Gives Portugal Storm Warning - Recession 2011 Here We Go Again
|Anonymous Coward (OP)|
User ID: 1122931
10/07/2010 08:11 PM
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And here come the first reactions. Not too long till this turns into a new Greece.
Portugal to Face First Joint General Strike in 22 Years Over Wages, Taxes
"Portuguese Prime Minister Jose Socrates will face the country’s first joint general strike in 22 years as the two biggest labor organizations prepare to protest against the government’s austerity measures.
Jorg Decressin, head of the International Monetary Fund’s world economic studies division, on Oct. 6 said that GDP may contract 1.4 percent next year because of the fiscal tightening. The IMF had forecast stagnation in 2011 before the announcement of the additional measures."
[link to www.bloomberg.com]
This is said to be the greatest manifestation ever here. I hope it doesn't end in riots like in Athens.
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|Related Topics: Recession (Economy) - Economic Collapse (Economy)|