BY PATRICIA KOWSMANN
LISBON—Portugal's prime minister laid out a three-year plan Friday to reduce the country's budget deficit that would shrink the number of public employees, add more working hours and raise the retirement age by a year, to 66.The plan, which aims to save €4.8 billion ($6.1 billion) through 2015, is certain to face resistance from the Socialist-led opposition and trade unions. They accuse the conservative government of trying harder to satisfy Portugal's international creditors than to spare the country—the poorest in Western Europe—from further hardship.
In a televised address, Prime Minister Pedro Passos Coelho said Portugal had no choice but ...
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