Alsace et Bastille

Alsace & Bastille - Conseil en Stratégie. Paris, Estoril
-Consultancy in Real Estate, Celebrity aviation, railway business, Consultancy in Export Strategy; E-mail: vitorpissarro.alsacebastille@Yahoo.fr or to Twitter adress Vitor Pissarro @VitorPissarro

segunda-feira, 20 de fevereiro de 2012

Portuguese economic update: New York Times editorial ( 17.02.2012)


«Portugal has met every demand from the European Union and the IMF. It has cut wages and pensions, slashed public spending and raised taxes. Those steps have deepened its recession, making it even less able to repay its debts. When it received a bailout last May, Portugal’s ratio of debt to gross domestic product was 107 percent. By next year, it is expected to rise to 118 percent. That ratio will continue to rise so long as the economy shrinks. That is, indeed, the very definition of a vicious circle

[Europe’s Failed Course, o editorial do New York Times de 17.2.2012]

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