Portugal’s disgruntled Facebook generation, inspired by a pop song, marched in a dozen cities to vent its frustration at grim career prospects amid an acute economic crisis that shows no sign of abating.
About 30,000 people, mostly in their 20s and 30s, crammed into Lisbon’s main downtown avenue on Saturday, called onto the streets by a social media campaign that harnessed a broad sense of disaffection. Local media reported thousands more attended simultaneous protests in 10 other cities nationwide.
A banner at the front of the Lisbon march said: “Our country is in dire straits.” Another said: “We are the future.”
Photo: Reuters
The Lisbon march was festive and raucous, featuring brass bands, drum combos and small children with balloons. -Middle-aged parents also turned out.
Portugal, western Europe’s poorest country, is producing the best-qualified generation in its history, thanks to big investments in education, but after a decade of feeble economic growth and a huge debt burden that has forced the government to enact crippling austerity measures, Portugal’s economy is unable to deliver the opportunities that trained young people are seeking.
The jobless rate stands at a record 11.2 percent and half the unemployed are under 35. In the third quarter of last year, 68,500 college graduates were idle — a 6.5 percent increase on the same quarter the previous year, according to the National Statistics Institute.
Like Greece and Ireland, other debt-heavy European countries, analysts say Portugal is on the verge of needing an international bailout that would prevent its financial collapse, but doom it to more years of recession.
“People’s well-being has taken second place to financial matters,” said Luis Santos, a 28-year-old out of work since graduating from Lisbon University three years ago.
Most of his old college friends also are finding it hard to get on the career ladder.
“It’s hard to come across anyone who’s happy about their prospects,” he said.
Portugal’s youth isn’t just angry at unemployment, but at “underemployment” — low paid, dead-end jobs beneath their levels of qualification — which leaves them stuck at home with their parents into their 30s.
Goncalo Montenegro, 45, was at the Lisbon march with his 14-year-old son. He works as a salesman, but said he is worried about his son’s future.
“We’re passing on this mess and our debt to the next generation. We have to find a different path,” he said.
Four college graduates in their 20s were inspired to organize the unprecedented protests after a pop song struck a chord with their despairing generation.
The song, called What a Fool I am by Portuguese band Deolinda, was an unexpected hit in January, even though it had yet to be released. An amateur video of a concert performance of the song posted on YouTube went viral as it set a generation’s simmering grievances to music.
The song’s lyrics, including the lines: “I can’t go on like this, this situation’s dragged on for too long,” built into a battle cry.
Joao Labrincha, a 27-year-old unemployed graduate from Coimbra University, said he and three friends took a spontaneous decision to organize the marches after seeing the video.
“We realized that lots of people are unhappy. It wasn’t just us,” Labrincha said.
Within weeks, thousands had signed up to their Facebook page and commented on their blog.
The protest’s manifesto said it wasn’t targeting the country’s embattled government, though many banners at the Lisbon march chided politicians. The demonstration’s aim was to make people aware they have to pull together to change the course of the country.
“We are protesting so that all those to blame for our current uncertainty — politicians, employers and even ourselves — might unite and quickly change this situation, which has become intolerable,” the manifesto said.
After contracting in 2009, Portugal is forecast to record a double-dip recession this year.
The country’s current -economic plight stems from Portugal’s inability to generate wealth while amassing massive public and private debt to finance its western European lifestyle.
Taiwan’s exports soared 56 percent year-on-year to an all-time high of US$64.05 billion last month, propelled by surging global demand for artificial intelligence (AI), high-performance computing and cloud service infrastructure, the Ministry of Finance said yesterday. Department of Statistics Director-General Beatrice Tsai (蔡美娜) called the figure an unexpected upside surprise, citing a wave of technology orders from overseas customers alongside the usual year-end shopping season for technology products. Growth is likely to remain strong this month, she said, projecting a 40 percent to 45 percent expansion on an annual basis. The outperformance could prompt the Directorate-General of Budget, Accounting and
The demise of the coal industry left the US’ Appalachian region in tatters, with lost jobs, spoiled water and countless kilometers of abandoned underground mines. Now entrepreneurs are eyeing the rural region with ambitious visions to rebuild its economy by converting old mines into solar power systems and data centers that could help fuel the increasing power demands of the artificial intelligence (AI) boom. One such project is underway by a non-profit team calling itself Energy DELTA (Discovery, Education, Learning and Technology Accelerator) Lab, which is looking to develop energy sources on about 26,305 hectares of old coal land in
Netflix on Friday faced fierce criticism over its blockbuster deal to acquire Warner Bros Discovery. The streaming giant is already viewed as a pariah in some Hollywood circles, largely due to its reluctance to release content in theaters and its disruption of traditional industry practices. As Netflix emerged as the likely winning bidder for Warner Bros — the studio behind Casablanca, the Harry Potter movies and Friends — Hollywood’s elite launched an aggressive campaign against the acquisition. Titanic director James Cameron called the buyout a “disaster,” while a group of prominent producers are lobbying US Congress to oppose the deal,
Two Chinese chipmakers are attracting strong retail investor demand, buoyed by industry peer Moore Threads Technology Co’s (摩爾線程) stellar debut. The retail portion of MetaX Integrated Circuits (Shanghai) Co’s (上海沐曦) upcoming initial public offering (IPO) was 2,986 times oversubscribed on Friday, according to a filing. Meanwhile, Beijing Onmicro Electronics Co (北京昂瑞微), which makes radio frequency chips, was 2,899 times oversubscribed on Friday, its filing showed. The bids coincided with Moore Threads’ trading debut, which surged 425 percent on Friday after raising 8 billion yuan (US$1.13 billion) on bets that the company could emerge as a viable local competitor to Nvidia