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Jornal de Negócios - Portugal | Tuesday, December 8, 2015

Austerity budgets a rude awakening for the left

The Greek parliament passed the budget for 2016 on the weekend. It foresees cutbacks in the order of 5.7 billion euros, including pension cuts and tax hikes. The liberal business daily Jornal de Negócios sees parallels with Portugal: "The Portuguese Socialists also promised in the election campaign that they would be able to abolish the additional tax. Now Prime Minister António Costa has admitted that this won't be possible in 2016. This is what happens when reality catches up with you. ... A dreamer should be forced to make decisions. Once he is confronted with reality he admits defeat and replaces demagogy with realpolitik. … As Portugal can't escape the targets imposed on it by Brussels, Costa and his partners will likewise one day be forced to swallow such a bitter pill. And who knows, perhaps at some stage they will even have to justify pension cuts."

» To the complete press review of Thursday, December 10, 2015

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