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alp227 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-24-11 04:42 PM
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Unions strike as Fitch downgrades Portugal
Source: FT

Portuguese trade unions and disaffected youth movements protesting against painful austerity measures caused widespread disruption on Thursday in what labour leaders said was the countrys biggest general strike in more than 30 years.

The 24-hour stoppage came as Fitch cut Portugals sovereign debt credit rating to junk status, citing the countrys adverse economic outlook, fiscal imbalances and high indebtedness across all sectors.

Fitchs one-notch downgrade, from triple-B minus to double-B plus, follows a similar downgrade by Moodys in July.

The general strike closed factories, schools, universities, courts and public services, halted buses and trains, and led to the cancellation of most flights to and from Portugal. Hospitals were limited to emergency services.

Read more: http://www.ft.com/cms/s/0/9c5b7456-1694-11e1-be1d-00144...



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msongs Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-24-11 05:26 PM
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1. these corporate scum like fitch and moody's need to be dumped nt
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Art_from_Ark Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-24-11 06:26 PM
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2. I don't see how anyone even gives them the time of day any more
after the role they played in the subprime debacle.

http://www.nytimes.com/2007/07/25/opinion/25rosner.html
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JDPriestly Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-24-11 07:14 PM
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3. Art, you are so right.
They share the blame for the mess we are in.
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