Spain has been quiet on this front for a while and surely many are hoping that it stays that way. As for Portugal, it will be interesting to see how the country moves forward since the bailout terms remain unpopular, as do both of the primary political parties. Moving forward is going to be a challenge in these circumstances.
A government official told Associated Press that the €78bn package included aid for Portugal's cash-strapped banks. The Público newspaper reported austerity measures would include cuts to some, higher-scale state pensions. Basic pension rates and the minimum wage would stay in place as would free schooling and health services, the newspaper reported. The retirement age would not be changed, it added.
Sócrates insisted that the bailout package required the country to carry out the same austerity measures rejected in parliament by the opposition centre-right social democrats, who are currently ahead in the opinion polls.
