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Portugal: financial eye exam
On the left: Bankruptcy; On the right: Austerity
**— Can you see better on the left or right?
— In both cases it hurts my eyes**
The 78 billion eurobailoutwas granted to Portugal in exchange for what the European Commission and the IMF call "true national effort", that is, among other things, reduced pensions, cut to health spending and unemployment benefits and a reform of the labour market.
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