Portugal's Prime Minister Passos Coelho says he will not raise taxes in order to meet this...

Portugal's Prime Minister Passos Coelho says he will not raise taxes in order to meet this year's budget target after a Constitutional Court struck down wage and pension cuts Friday (I, II). Instead, the government will seek to cut spending in other areas. An unnamed source suggested public sector employees may be paid in Treasury bills effectively "forcing them … to lend the Treasury the money the court said it couldn't cut from their paychecks." This notion was quickly dispelled by a government spokesperson.  

Comments (7)
  • KJP712
    , contributor
    Comments (472) | Send Message
    They still get paychecks? I thought you needed a job to get one of those.
    7 Apr 2013, 09:34 PM Reply Like
  • justaminute
    , contributor
    Comments (1922) | Send Message
    Too bad they aren't a banking center for Russian oligarchs, eh?
    7 Apr 2013, 09:40 PM Reply Like
  • davidbdc
    , contributor
    Comments (3194) | Send Message
    Its a very disturbing decision by their courts. Basically they are saying the bureaucrats come before the rest of the citizens of the country.


    The solution is fairly simple. Fire them.
    7 Apr 2013, 09:56 PM Reply Like
  • chopchop0
    , contributor
    Comments (5345) | Send Message
    Brilliant idea. They should start paying unionized workers in ca and the northeast in state muni bonds
    7 Apr 2013, 10:00 PM Reply Like
  • SoldHigh
    , contributor
    Comments (991) | Send Message
    Govt big enough to give you anything you need can just as easily take it away.


    Historical failure rate for Socialism remains 100%.
    7 Apr 2013, 10:42 PM Reply Like
  • bjamesh
    , contributor
    Comments (281) | Send Message
    Treasury bills instead of €? Another trial balloon like Cyprus? Couldn't be ... it's from the usually reliable "unnamed source".
    7 Apr 2013, 11:38 PM Reply Like
  • gjmeldrum
    , contributor
    Comment (1) | Send Message
    Sure, Steal once again from the "middle class" to ensure that the upper class do not fel any pain. RIDICULOUS!!!!!
    8 Apr 2013, 11:21 AM Reply Like
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