It Still Ain't Good News.............

Greece is anything but out of the woods with their austerity program.  It sucks when you run out of other people's money or you are unable to make your own.  Today in America 47% of the people depend on some sort of assistance from the government. 

Portugal:

Organisers of the CGTP labour confederation’s national demonstration on Saturday, 11 February estimated some 300,000 protesters marched through the capital to rally in Praça do Comércio square beside the Tagus River.

Communist party leader Jerónimo de Sousa described the demonstration as the “biggest in 32 years”.

Police gave no figures as to the estimated number of protesters.

Arménio Carlos, making his debut appearance as the CGTP’s new chief, demanded in a speech that the government raise salaries and “urgently” increase the €485 monthly minimum wage.

“Today Portugal has 400,000 workers who work and live on the edge of poverty”, he said, noting that many took home net wages below the €434 poverty line.

The tough austerity policies being implemented over the past nine months; he said were “taking the country towards a precipice”.

Mr. Carlos slammed the recent accord between government, employers and the smaller labour confederation UGT to deeply reform labour laws.

Portugal should fulfil its international commitments, Mr. Carlos said, but should do so by applying policies to “create wealth” and renegotiating its sovereign debt without “subservience”.

He said the CGTP leadership would meet this week to discuss “all forms of struggle”, but declined to specify whether a general strike was in the works.

During the rally, Arménio Carlos did however announce another protest action on 29 February “across the country.”

The CGTP and the UGT jointly sponsored a rare general strike that largely paralysed