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Portugal passes austerity budget

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Portugal passes austerity budget

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Portugal’s parliament has just passed it’s austerity budget, despite the opposition Conservatives abstaining.

A raft of cuts were proposed in a bid to slash their budget deficit by 2%.

Portugal has seen the biggest strike action in years after unions urged action over the cuts.

The action largely failed, but the government still faces pressure from the eurozone to accept a financial bailout in order to stem the threat of contagion to other countries like Spain.