The privatization of essential services was seen as a threat to the welfare state and the rights of the poor.
There was a cultural sting to seeing iconic national companies sold to foreign conglomerates (specifically Chinese and Brazilian investors). Cultural Impact Portugal NГЈo EstГЎ Г Venda
of key state assets like energy (EDP), mail (CTT), and aviation (TAP). Labor reforms that reduced worker protections. The Message The privatization of essential services was seen as
Programs that grant residency to wealthy foreign investors. Labor reforms that reduced worker protections
It headlined some of the largest demonstrations in modern Portuguese history, such as the Que se lixe a troika (Screw the Troika) marches.
In 2011, Portugal faced a severe debt crisis. To avoid bankruptcy, the government signed a 78 billion euro bailout agreement with the "Troika" (the European Commission, the European Central Bank, and the IMF). The conditions were strict: involving tax hikes and wage cuts.
While the bailout program officially ended in 2014, the sentiment remains relevant. Today, the phrase is often repurposed to protest: