Revolting Europe
Portugal
Brexit – Reactions from Europe’s radical Left
French communists British citizens have just voted to 51.9% out of the European Union. It is a new shock revealing the magnitude of the popular rejection against the neoliberal EU. The time has come to rebuild the EU, to build a Union of peoples and of free nations, sovereign and partners, for human progress and … Continue reading
What’s the chance of a progressive government in Lisbon?
Last Sunday 4 October Passos Coelho’s right-wing coalition won the most votes in general elections in Portugal but failed to win a majority in parliament. Since then the man who’s imposed on Portugal some of the harshest austerity measures in Europe has been trying win the backing of the opposition Socialists. If the Socialists refuse … Continue reading
Poster turned problem child Portugal doesn’t need more austerity pain
Former poster child Portugal is coming under renewed pressure from the IMF to make deep spending cuts amid the highest overall debt levels in the EU, concerns about job creation and rising ‘bad’ non-performing loans. Barely a year after a much trumpeted exit from the Troika’s punishing three year adjustment program. But Portuguese economist Ricardo Paes … Continue reading
Portugal’s poll-leading Socialists propose making pensioners pay for ‘anti-austerity’ budget if elected
Portugal’s socialists have come under fire for proposals that would see pensioners pay for their plans to ‘turn the page on austerity’ if they are elected in general elections in the autumn. “There is an alternative, it’s possible to turn the page on austerity and have better economic results,” Socialist leader Antonio Costa said, Reuters … Continue reading
The Troika is dead! Long live the Troika
Portuguese radicals have accused the EU Commission chief Jean-Claude Juncker of “hypocrisy” and seeking to “continue to the policies of the Troika without the Troika.” The leader of the European Commission said Wednesday that the “troika is undemocratic, it lacks legitimacy” and and it was time to learn “the lessons of history and not repeat the same … Continue reading
New bank, old fraud
Plans have been announced to ‘rescue’ Banco Espirito Santo by splitting it into a “good” and “bad” bank and loaning it €4.9bn from the European bailout fund in an operation that will leave the liabilities with the Portuguese people. Rui Tavares of the Left Bloc argues it doesn’t have to be this way Portugal has witnessed … Continue reading
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
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