Portuguese Seeking Opportunities In Former Colonies

Portugal is burdened with such big debts that some are calling it “the next Greece.” Unemployment is soaring, and the debt continues to rise, despite draconian austerity measures. However, Portugal has something that Greece doesn’t, and it’s something struggling Portuguese residents are ready to acknowledge: Former colonies, which happen to be rich in natural resources and in need of labor, both skilled and unskilled. And in a type of role reversal, some Portuguese are now traveling to Brazil, Angola and China in hopes of improving their lives.  At a national level, Portuguese unemployment is stuck at 14%. But young people are bearing the brunt of this burden, with unemployment rates surpassing 30% in younger age groups. Two million people are close to the poverty line.  The economy is expected to shrink at least 3% this year alone.

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