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Will anti-austerity Portugal become the new Greece?

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By Euronews
Will anti-austerity Portugal become the new Greece?

<p>Is Portugal about to take the same path as Greece? That’s the question being asked as the country’s new Socialist government was sworn in promising to end austerity.</p> <p>Prime Minister Antonio Costa says he will respect European budget rules.</p> <p>After years of hardship and protests since Portugal’s bailout in 2011 the Socialists want to reverse many measures such as wage and pension cuts. </p> <p>But the political upheavals have prompted concerns that an economic recovery could be undermined.</p> <p>The socialists will need the far-left Communists and Left Bloc to pass measures through parliament.</p> <p>A new budget for 2016 is already overdue and there are fears it may increase the budget deficit and debts.</p> <p>Portugal’s president has vowed to guarantee the country adopts a disciplined budget.</p>