Alexa

Dockworkers strike compounds Portugal's problems

Dockworkers strike compounds Portugal's problems

Portuguese dockworkers have started a five-day strike that shipping agents say will cost the ailing country millions of euros and could bring food and fuel shortages.
Around 70 percent of Portugal's foreign trade, including all oil imports, is conducted by sea.
Portugal is struggling under a huge debt burden and needed a (EURO)78 billion ($99.5 billion) bailout last year to ward off bankruptcy. The government hopes exports can help the country out of a recession which is forecast to continue this year.
The Portuguese Association of Shipping Agents estimates the strike will cost tens of millions of euros.
The Confederation of Maritime and Port Unions called the walkout to fight layoffs. It said Monday the strike would shut down most Portuguese ports.