Portugese example, austerity ruining southern Europe.

[Something completely different]

http://www.spiegel.de/international/euro...11154.html

I am by now convinced that the current course implemented by the troika is failing. But unfortunatly it seems like Merkel will be reelected this fall and that the austerity masures for which she pushes will stay in place.

I think countries like Portugal, Spain, Italy and Greece should finaly get a bit more free room and do some spending.

[Polaris]

Portugal is getting a boost from companies who value the intelligence of the average Portuguese citizen and from their low salaries.

[Anomalocaris]

http://www.spiegel.de/international/euro...11154.html

I am by now convinced that the current course implemented by the troika is failing. But unfortunatly it seems like Merkel will be reelected this fall and that the austerity masures for which she pushes will stay in place.

I think countries like Portugal, Spain, Italy and Greece should finaly get a bit more free room and do some spending.

One might argue that had south Europe been given room and encouragement at the beginning to simply grow their way out of their debt problem, the structural causes would not have been permanently addressed and with the next down turn they would be on the verge of insolvency again.

[LastPoet]

Tell us something we don't know TGAC, we've been feeling the thick troika cock on our asses for 2 years. I have always said that too much austerity doesn't work. Structural overhaul is needed, but the deadlines are too short. These measures are throwing Portugal into a vicious economic downward spiral.