| Author (Person) | Wise, Peter |
|---|---|
| Series Title | Financial Times |
| Series Details | 25.11.11 |
| Publication Date | 25/11/2011 |
| Content Type | News |
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Labour leaders in Portugal described a general strike on the 24 November 2011 as the biggest in more than 30 years as disaffected youth joined traditional trade unions to protest at harsh austerity. The 24-hour stoppage came as Fitch cut Portugal’s sovereign debt credit rating to junk status, citing the country’s adverse economic outlook, fiscal imbalances and 'high indebtedness across all sectors'. The strike was called ahead of a vote in parliament the following week on what the government had acknowledged will be the country’s harshest budget in living memory, cutting the income of many public sector workers by as much as 25% from 2010 levels. The scale of protest reflected the pain inflicted by the fiscal adjustments required under Portugal’s €78bn financial rescue programme. |
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| Countries / Regions | Portugal |
