In this Saturday, Jan. 21, 2012, file photo, a protester wearing a Guy Fawkes mask waves a flag outside the Portuguese parliament during a demonstration against the government's austerity measures, in Lisbon. Austerity has been the main prescription across Europe for dealing with the continent's nearly 3-year-old debt crisis, brought on by too much government spending. Portugal is paying its bills only because of an international rescue loan. But the effect of lower government spending has been brutal: The economy is expected to contract 3.4 percent this year after a double-dip recession last year. (AP Photo/Francisco Seco)