The country which is experiencing its highest unemployment rate in 30 years - 12.6 per cent -- must implement tax hikes, a freeze on pensions and wages, as well as introduce a big reduction in welfare benefits.
Monday, June 6, 2011
Portugal set for $114 billion EU-IMF bailout
In return for a $114 billion EU-IMF rescue package Portugal will have to implement austerity measures -- already a key issue of its current election.
The country which is experiencing its highest unemployment rate in 30 years - 12.6 per cent -- must implement tax hikes, a freeze on pensions and wages, as well as introduce a big reduction in welfare benefits.
The country which is experiencing its highest unemployment rate in 30 years - 12.6 per cent -- must implement tax hikes, a freeze on pensions and wages, as well as introduce a big reduction in welfare benefits.
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