NYTIMES/ Portugal is following Spain's austerity measures by agreeing with the opposition to cut the deficit faster than planned, to 4.6% of gross domestic product next year from 9.4% last year. PM José Sócrates will use tax increases and wages cuts and smaller corporate subsidies to eliminate $2.7 billion from the deficit. Already Portugal’s economic problems are increasing tensions with strikes over a freeze on public sector wages that caused transportation chaos and closed schools and hospitals.
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