The Portuguese government Thursday approved a series of measures, including tax increases and salary cuts for politicians and other public employees, intended to speed up the reduction of the country’s budget deficit, Prime Minister Jose Socrates said. The move follows the announcement Wednesday of similar measures in neighboring Spain, where Prime Minister Jose Luis Rodriguez Zapatero’s government has likewise been under pressure from international financial markets, the European Union and the European Central Bank to slash its budget deficit.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio