Portugal and the Troika three years on 

Revolting Europe

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 now ensnared.

Taxes on workers have been raised these past three years by about 30%, as ordinary families have been subjected to sharp cuts in their income while public services like education and health have deteriorated and the prices of essential goods, water, electricity or transport, have risen considerably.

Poverty

About 1.1 million Portuguese are now living in extreme poverty. Over 200,000 have joined the ranks of the poor since 2010. One in 4 people are now poor, a number that has grown 25 % in 4 years, with nearly 2 million citizens currently forced to get by…

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