Portugal's crazy cutbacks

Following a marathon of talks the government, trade unions and business associations in Portugal on Tuesday agreed a series of labour market reforms on Tuesday. Annual holidays are to be reduced, three public holidays scrapped and severance and overtime payments also cut. But the tabloid Correio da Manhã doubts whether this can really avert a crisis in the country: "These cuts come in addition to those already imposed on us all by the creditors. At a time when there is already less of everything, there are still those who believe that these new sacrifices will make our country more competitive and more efficient, increase our revenues and banish the spectre of the crisis. A few years ago [legal expert] Saldanha Sanches coined the term 'tax idiot' for those who carried out their duty of paying taxes. There are still such people, plus a couple of other idiots who still believe that the 'system' will change."

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