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Portugal Considers Paying Public Workers In Treasury Bills Instead Of Cash
As reported late on Friday, just as the market closed, the Portuguese constitutional court decided that several provisions of the country's 2013 budget were not constitutional. According to the high court, cuts in wages and pensions of public employees were unfair (there's that word again) because they targeted only the public sector. The court rejected plans to cut one of the 14 paychecks that public workers usually get each year and to slash 6.4% from pensions for retirees. This coincided with the government warning that the court's decision would put into question the country's ability to fulfill its €78 billion ... (full story)