Portugal’s Pragmatism Stakes Steady Economic Recovery

Commerce Square, Lisbon, Portugal, Nov. 26, 2013 (photo by Flickr user mgkm photography, licensed under the Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic license).
Commerce Square, Lisbon, Portugal, Nov. 26, 2013 (photo by Flickr user mgkm photography, licensed under the Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic license).

With all eyes on Greece, especially after the International Monetary Fund (IMF) walked away from debt negotiations last week, bringing Athens that much closer to default, it is easy to miss that last week also marked the one-year anniversary of Portugal completing its bailout program. Portugal isn’t in the clear just yet: Its employment rate increased to 13.7 percent last month and debt to GDP ratio is 129 percent. But its economic situation has stabilized, and the government is repaying its debts on time, if not early. Portugal signed its 78 billion euro economic adjustment program with the so-called troika […]

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