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Expresso - Portugal | Monday, September 3, 2012

Portugal not recovering despite austerity

Despite rigid implementation of the austerity programme, according to experts Portugal will exceed the agreed deficit target for 2012 by a large amount. The left-liberal weekly Expresso calls for the country to abandon its austerity policy: "The troika would be happy and benefit if Portugal was doing better. If its formula for recovery was proving effective here it would have proof that the cure - if painful - guarantees success when the patient follows the doctor's instructions to the letter. … With a patient as compliant as Portugal there should be clear signs of recovery by now. But that's not the case. … Neither the government nor the troika are likely to be humble enough to admit that they were completely mistaken both in their diagnosis and their treatment. But we can at least expect them not to continue prescribing the same medicine. We may have become poor and faithless, but we're certainly not complete idiots."

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