General strike in Portugal over austerity
Linkedin

General strike in Portugal over austerity

Lisbon : Portugal | Mar 22, 2012 at 1:52 AM PDT
XX XX
Views: Pending
 
Stock Market History Largest Bailout in the History of the World 1 Trillion

Reports from Portugal that the metro systems in Lisbon and Oporto, Portugal's second-largest city, have shut down because of the strike, and that the ferry service linking the two sides of the Tagus river in Lisbon is also suspended.

Portugal's airport operator ANA urged passengers to check on the status of their flights before heading to the airport, but air traffic controllers were not taking part in the strike.

The country's biggest union -- the General Confederation of Portuguese Workers -- called the strike in February to complaint against a reform of the labor code that makes it easier to hire and fire workers.

Portugal, facing its most evil recession since the 1970s, was forced to take a bailout from the European Union and International Monetary Fund in May last year after running up large debts. Some economists say it might need a second bailout as the recession deepens, putting its budget targets in doubt and jeopardizing its planned return to the bond markets late next year.

The centre-right coalition government, which has a majority in parliament, and the main opposition Socialist Party gave their blessing to the bailout situation in May 2011.

Portugal was the third EU country after Greece and Ireland to receive such a bailout.

1 of 21
Next
The European Central Bank and most eurozone countries are pressuring Portugal to seek aid from the EU's bailout fund
The European Central Bank and most eurozone countries are pressuring Portugal to seek aid from the EU's bailout fund
bulgars004 is based in Faisalābād, Punjab, Pakistan, and is a Reporter for Allvoices.
Report Credibility
 
  • Clear
  • Share:
  • Share
  • Clear
  • Clear
  • Clear
  • Clear
 
 
 
Advertisement
 

News Stories

 
  • Portugal faces general strike in test of austerity

      International Business Times
    Portuguese have shown little interest in imitating the kind of protests seen in Greece, despite record unemployment and the worst recession in decades. Some economists fear Portugal may be pushed into seeking a second bailout from its European...
  • VIDEO: Portugal fighting off debt spiral

    Portugal fighting off debt spiral 21 March 2012 Last updated at 07:27 ET The Portuguese government is hoping to raise billions of euros on Wednesday when it holds a short-term debt auction. Portugal's largest union has called on workers to stage a...
  • Eurozone crisis live: General strike in Portugal over austerity

      Guardian Unlimited
    It is opposed to labour law reforms, which remove restrictions on hiring and firing staff, and lowers the compensation payments due to workers. Lisbon underground and the ferry boats that take workers across the Tagus River to the capital. That would...
  • Ailing Portugal raises $2.6B in debt auction

    Portugal has managed to borrow almost euro 2 billion ($2.65 billion) at sharply lower prices in a short-term debt auction, despite nagging concerns about its chances of beating a recession. The government debt agency said it sold 12-month Treasury...
  • Greek state hospital doctors, staff on strike

      AP Online
    Greece (AP) — Greek state hospital services faced disruptions Wednesday as staff held work stoppages and protests over government austerity measures and pay delays. Doctors and staff at public hospitals in the greater Athens area were...
  • Portugal general strikes: Action disrupts country's transport system

      Mail Online UK
    22 March 2012 Strikes in Portugal, a destination popular with millions of British holidaymakers each year, have forced the cancellation of most means of public transport across the country. The action, by workers angered by austerity measures, has...

Blogs

 >

Images

 >
 

More From Allvoices

Report Your News Got a similar story?
Add it to the network!

Or add related content to this report



Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc. 2008-2014. All rights reserved. Powered by PulsePoint.