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Portugal

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The fall of Ricardo Salgado, a Portuguese oligarch

A Portuguese oligarch has been arrested and his historic Espírito Santo business empire is falling apart. Can the fall out be ‘contained’?  Ricardo Espírito Santo Silva Salgado is known in Portugal as “Dono disto tudo,” or “Owner of everything.’ The oligarch’s family has been calling the shots in the country for over a century. It’s the largest shareholder of the … Continue reading

European elections: The Good, the Bad and the Ugly

Millions of Europeans said ‘Non’ to the EU and the neo-liberal austerity policies of the Troika in the pan-Continental elections on May 22-25.  And it wasn’t just the far right, but the radical left and new anti-austerity parties in the ‘periphery’ that delivered that unwelcome message. THE GOOD With the exception of Greece, much of the … Continue reading

Radical left could become 3rd force in EU parliament, polls show

The radical left could become the third force in the European parliament, after the conservatives and social democrats, according to recent polls. Syriza in Greece leads with 26.2 % support, followed by Portugal, Spain and France. With a month to go to the European Parliament elections, polls suggest the Parliamentary Group of the European United Left (GUE – … Continue reading

Portugal’s Revolution 40 years on: 5 Voices

In April 1974 a coup carried out by left-leaning army officers led the way to democracy in Portugal. The coup on April 25, was led by soldiers and joined by a popular resistance movement. Nowadays austerity measures are threatening the welfare state, healthcare, education, pensions, labour and all the social achievements accomplished 40 years ago. … Continue reading

Portugal and the Troika three years on 

By Catarina Oliveira Three years ago the Portuguese Government called in the Troika. “Save wages and pensions,” was the pretext but that did not happen. Today the dramatic social consequences of the entry of the Troika in Portugal are easy to analyse. A look at the figures shows the spiral of impoverishment in which the country is … Continue reading

Fast Facts: Gender Social Inequality and Austerity in Europe

Europe’s austerity fetish and longer term neo-liberal reforms promoted by Big Business, Governments and the EU Commission hurt women disproportionately. Here’s a few facts to illustrate the point.   Europe wide  The gender pay gap is around 16% It ranges from more than a quarter (27%) in Estonia to around a fiftieth (2%) in Slovenia. … Continue reading

What success? Portugal’s sovereign debt auction just a good deal for the banks

Portugal’s government bond sale this week – the first since January 2013 – was heralded in the national and international press as a storming success, and coming after a similar ‘success’  for Spain’s first big debt auction of 2014 and a ‘popular’ bond sale by Ireland, apparently indicated a sign of a turnaround in the … Continue reading

‘Ignorant’ Troika slammed for Portugal record as give-away privatisation criticised

As part of the the Troika ‘bail out’ deal of 2011, the Portuguese government agreed to a mass privatisation programme flogging off publicly owned energy, water and waste management, communications, insurance, transportation, ship-building and public broadcasters. Lisbon has reportedy already beaten its bailout target to raise 5.5 billion euros from privatisations by the end of 2013, but if … Continue reading

Portugal: Local polls to test government austerity policies

UPDATE: The local elections held in Portugal on Sunday resulted in the centre-left Socialists, the main opposition party, gaining 36.3 per cent of the vote and control of 106 of Portugal’s 308 town halls, which was their biggest local election victory to date. The governing PSD won 26.5 per cent of the vote and 99 town … Continue reading

Portugal government survives to continue austerity course, President decides

Portugal’s President Anibal Cavaco Silva on Sunday ruled out a snap election and said he wanted the right wing coalition government to stay in place to end a weeks-old political crisis and to ensure the destructive austerity measures and debt payments under the EU/IMF bailout stayed unchanged. The President had hoped for a ‘broader political … Continue reading

Troika destroys 500,000 jobs in Portugal

The austerity measures demanded by the Troika have destroyed half a million jobs in Portugal. This year, Portugal will have fewer people employed than in 1960. And in 2014 the situation is expected to worsen further. According to Diário de Notícias newspaper, reporting on figures published in the Summer 2013 Economic Bulletin of the Bank of Portugal, ‘already this … Continue reading

Six reasons why Portugal held a general strike this week

Portugal’s two main confederations held a general strike Thursday – the fourth general national stoppage in two years. Why? Since 2011, when the government of Portugal signed up to the Troika bail out loan conditions of austerity and neoliberal ‘reforms’, this is what has happened: Real wages have fallen by 9.2% Household spending has fallen … Continue reading

Is the Eurozone establishment changing?

By Vincent Navarro There is a growing awareness among some international institutions such as the International Monetary Fund (IMF) that policies of austerity and public spending cuts they have been promoting and imposing have failed to achieve their objectives. A recent IMF report even acknowledges that, in the case of Greece, these policies have been more damaging … Continue reading

Are we Portuguese living beyond our means?

By Jose Manuel Pureza If there wasn’t the Troika there wouldn’t be money to pay salaries or pensions – this assertion is repeated ad nauseam by the heralds of foreign intervention in Portugal. And this is immediately followed by the argument that this is because we have long been living beyond our means, squandering money … Continue reading

Eurocrisis: why northern Europe should be celebrating

According to legend, the bailouts of countries of Europe’s south have been costly for Germany and other northern countries such as Finland, Austria and Holland. Hence their obsession with policies of ‘rigor’ and deficit reduction. The truth is that they have earned tens of billions of euro from the south. Maurizio Ricci shows how. Someone – possibly Angela Merkel … Continue reading

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DATA

Anti-social Europe in numbers

WAGES SLIDE

Key facts and figures on wages across the EU

Wealth Inequality in Europe

Get the key facts and figures

RADICAL VOICES

A different take on European issues

Italy’s Healthcare Crisis

Health services are ‘close to collapse’ in Rome, Turin and Naples after years of cuts and privatisation.

550 days, 29 Workers, Zero Job Losses

How a few determined Italian women stopped their factory closing and protected their livelihoods

Filthy Rich

France's Bernard Arnault of the Louis Vuitton Moet Hennessy (LVMH) empire is worth $41 billion. Check out Europe's rich list

SANTA DRAGHI’S COMING

Private banks receive half-trillion-euro gift from ECB

POPULAR FIGHTBACK

Workers and citizens stand up for themselves

FLORENCE’S BUS LUMACA

Workers are on a go-slow over privatisation

Popular resistance delivers results

Lessons from the victory against Madrid privatisation plan

FRENCH FACTORY OCCUPATION

Hundreds of workers occupied the factory of ArcelorMittal in Florange in the north of France

International Workers Day

International Workers Day 2012

DOMESTIC VIOLENCE

in Italy the home is a very dangerous place to be

LABOUR RIGHTS

Workers down tools over PM Monti's attack on labour rights

FORTRESS EUROPE

Concentration camps and a massive migrant marine cemetery

Subjects

EUROPE NEEDS A CITIZENS’ REVOLUTION

Read the statement by Lafontaine and Melenchon

The Troika in Portugal – Three Years On

A success story?

THE EURO

The Dossier

FRANCE

GERMANY

GREECE

ITALY

PORTUGAL

SPAIN