Pete
11-24-2010, 05:47
Strike against austerity cuts brings Portugal to a halt
"PIGS" "Public sector workers" - Key words added to help future search
As with Greece, when the Public Workers become a large voting block they can vote themselves pay raises - the Government can raise taxes while a private business would be driven out of business.
http://www.bbc.co.uk/news/world-europe-11825643
"........The government aims to quell international unease over the country's public spending and deficit by cutting wages for public sector workers, freezing pensions and increasing taxes........."
and
"...........With 80% of its public debt held abroad, the country now finds itself at the mercy of bond traders and wants to convince the markets that it will be able to meet its commitments, our correspondent says. ........."
"PIGS" "Public sector workers" - Key words added to help future search
As with Greece, when the Public Workers become a large voting block they can vote themselves pay raises - the Government can raise taxes while a private business would be driven out of business.
http://www.bbc.co.uk/news/world-europe-11825643
"........The government aims to quell international unease over the country's public spending and deficit by cutting wages for public sector workers, freezing pensions and increasing taxes........."
and
"...........With 80% of its public debt held abroad, the country now finds itself at the mercy of bond traders and wants to convince the markets that it will be able to meet its commitments, our correspondent says. ........."