Belgium and Portugal face economic stagnation amid austerity and social unrest
What happened
Belgium and Portugal are currently experiencing economic stagnation and austerity measures. In Portugal, public sector strikes have occurred, while Belgium is seeing youth protests. These issues are part of a broader trend of economic stagnation and social unrest across several European nations.
From wsws.org
Why it matters
The nations are dealing with enormous debts and economic stagnation, which is linked to a financial oligarchy demanding cuts to social spending. This situation occurs against a backdrop where the tax burden in several European countries relies heavily on consumption taxes.
The tax burden in several European countries differs significantly from the average of major economies, often relying heavily on consumption taxes.
From wsws.org
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The tax burden in several European countries differs significantly from the average of major economies, often relying heavily on consumption taxes.Also in this story
- Spain, Italy, and the Netherlands are offering higher state pension benefits, compared to the average of major economies.
- Spain, Italy, and Portugal are calling for heavier taxation of profits on the six largest oil and gas companies.