World | Economy | Business

Portugal Struggles To Avoid 2nd Bailout

NPR | May 7, 2013 8:04 a.m. | Updated: May 7, 2013 11:06 a.m.

Contributed By:

Lauren Frayer

Portugal’s creditors are evaluating the country’s latest austerity package, which includes 30,000 public sector layoffs, to determine whether Lisbon might need a second international bailout. The Portuguese government is raising the retirement age and lengthening work weeks to try to squeeze out more revenue, and repay its bailout loans. But unions, taxpayers and some economists say the medicine may be killing the patient.

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