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Bailed-out Portugal scrambles to find new spending cuts after court disallows pension changes
Reported by: Associated Press
Reported: Friday, December 20, 2013 7:38 AM EST
Portugal's prime minister says his government is looking for new savings to meet its budget targets next year after a court disallowed planned cuts in state pensions.
Portugal got a 78 billion euro bailout in 2011 and in return agreed to slash spending.
Prime Minister Pedro Passos Coelho said Friday his government is examining alternatives and didn't rule out new taxes. However, he acknowledged that would hurt Portugal's fragile economic growth.