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Portugal hopes to deliver success story to Merkel November 9, 2012

Posted by proeconomia in Uncategorized.
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Here is an article from Reuters regarding Portugal.

OK! Chancellor Angela Merkel is looking for a back up by Portugal to smooth out the blame for Greece’s parlous economic state. Portuguese Prime Minister Passos Coelho “will be able to tell Europe’s most powerful politician that Lisbon has launched labor market reforms, sold state assets, sharply cut spending and is edging closer to returning to bond markets next year.

“Austerity policies implemented in Europe have not been imposed by Germany’s chancellor, they are the result of too much debt taken on by European governments for too many years,” he said this week.”

What have our politicians done in three years other than imposing tax burdens to pensioners and cutting wages?

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