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Expresso - Portugal | Monday, June 11, 2012

Lisbon is no new Athens

A year after seeking help from the euro bailout fund Lisbon has not turned into another Athens, despite the fierce debates about the rigid austerity programme and concerns about social unrest, the left-liberal weekly Expresso concludes: "So how are we doing? After a year there is no precise answer to this question. The only thing that seems to be certain is that we are worse off. It may be that we have pulled back a little from the edge of the abyss, but at the same time we know that we are still far from being on the path to sustainable development. In addition our fate depends on others. We will have to give up all we have to the state to pay off its alleged investments in our joint prosperity. But there is some good news, too: Our exports are doing well and we still live in social peace. But this is not thanks to the government. Instead of taking care of our future prosperity the state should simply try to repair the damage of the past. If it had already done this we could certainly have saved a lot of money." 

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