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23 January 2012

PORTUGAL : Diners Eating Light...During Austerity.

http://www.reuters.com/article/2012/01/20/us-portugal-restaurants-idUSTRE80J0PB20120120

     Portugal's restaurants are going hungry in the nation's new austerity.
     They are the 4th largest source of jobs...and account for 4% of GDP.
     But many are near closing.
     Part of the reason for the slow business...a newly hiked VAT tax...to 23%...from 13%.
     Instead of full meals...people are ordering soups and sandwiches...often to go.
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