Portugal

Portugal: More austerity looms in 2011

General strike against austerity in Portugal, November 24, 2010.

By Raphie de Santos

January 4, 2011 -- Socialist Resistance -- A full financial bailout of Portugal involving the European Central Bank (ECB) and the International Monetary Fund (IMF) looks set to happen in the first half of 2011. This will involve severe austerity conditions being imposed on the Portuguese people by the ECB and IMF.

The indications are clearly there as at the end of 2010 Fitch joined the two other credit rating agencies to downgrade Portugal’s debt to A+, which is just above junk status. They are concerned that the current account deficit running at 9% is unsustainable with the ruling Socialist Party unable to impose the effective 4% budget cuts in 2011 that they outlined at the end of 2010.

After Copenhagen: Can we save the world? Video: Is the climate sick of us?

Ian Angus interviewed by Esquerda.net during the conference O Clima Farto de Nos? (Is the climate sick of us?), held in Lisbon, March 26-27. The three questions, shown in text in Portuguese, are: Is the climate sick of us? What must be done internationally about this situation? What message would you like to give to the Portuguese people?The video, which is in English with Portuguese subtitles, has also been posted on the website of Portugal's Left Bloc, and on the Esquerda.net channel on YouTube.

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Portugal: What's behind the success of the Left Bloc?