Portugal in crisis after 1 million say No to austerity

EUObserver reported that Portugal was facing a massive backlash against further Troika-approved austerity measures adopted in September 2012 to raise social contributions for employees.

The Portuguese government agreed on the 22 September 2012 to look for alternatives to a social security tax rise a week after huge anti-austerity street protests.

ESO: Background information: Lenders relax Portugal’s fiscal targets http://www.europeansources.info/record/lenders-relax-portugals-fiscal-targets/

The Guardian, 19.9.12: Portugal risks social unrest over taxes, warns union chief http://www.guardian.co.uk/world/2012/sep/19/portugal-social-unrest-warns-union

BBC News, 22.9.12: Portugal backs down on social security tax rise http://www.bbc.co.uk/news/business-19684712

France24, 22.9.12: Portugal government reverses stance on tax hike http://www.france24.com/en/20120922-portugal-government-reverses-stance-social-security-tax-hike-backlash-austerity-economic-crisis-bailout

El País, 1.10.12: European Commission approves Portugal’s alternative measures to social security hike http://elpais.com/elpais/2012/10/01/inenglish/1349108926_948384.html

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