Marques Guedes explained that the Executive hopes that labor reform may be in force next September. However, the Secretary of State pointed out that the details of the new labor law will be negotiated with trade unions and entrepreneurs within the framework of the social dialogue. If you have read about Sen. Sherrod Brown already – you may have come to the same conclusion. Those conversations this also pending the establishment of a Fund for dismissals, also approved Wednesday, which will be based on corporate contributions and will ensure the payment of half of the compensation. In addition to these measures for cutting costs in the public sector and private companies, the Portuguese Conservative Government has already created a tax on the salary, equivalent to half of the wages of Christmas, which this year will be applied to all workers above the minimum wage, of 485 euros per month. Passos Coelho, who succeeded the Socialist Socrates – in power since 2005 until the elections of last month – has become the largest the priority of his Government compliance with the demanding conditions of the bailout of Portugal and the recovery of confidence in the Portuguese economy. Despite the 78 billion euros that has secured the next three years, Lisbon remains very depressed in the debt markets, where the interests of their bonds have continued to climb in recent months and were Wednesday around 20% in maturities more than 12.3 in the titles to ten years and two to three years. The Portuguese Treasury returned Wednesday to the debt market and placed only three to six months, of the maximum of 1 billion EUR 750 million, predicted, although he managed to keep the interest to the 5% limit despite a slight rise from the previous auction. This placement reflected that the pressure exerted on Portugal markets has intensified exponentially in the last year. In July 2010, Portugal paid for an issue of securities to six months 1.94% interest, less than half that now, and in August of that same year placed debt three months in exchange for a profit five times lower than the current one, of 0.99%. Source of the news: Portugal reduces by 15% the high charges and low compensation for dismissal