terça-feira, 23 de novembro de 2010
TEc - "Atlantic trouble" - Portugal fights for exclusion...
This is a situation resembling a death row.
The accused is not an individual but a collective body.
Each frightened country queued up to go to the gallows wishing it may earn last-minute mercy from the executioner.Above all not wishing to be taken for someone else.Innocently paying extra for someone else's misdeeds.
Seriously, Portugal is neither Greece nor Ireland.Greece is neither Portugal nor Ireland.Ireland is neither Portugal nor Greece.Period.
There are enough differences between them - past, present and future - to warrant separate treatment from that unidentifiable entity named financial markets.Unfortunately what they've shared in common - the need to go back to the markets selling debt, perceived sluggish economic prospects (Ireland is more promising) and the fact they are smaller countries - made them very vulnerable to poaching.
Portugal has defied the worst expectations by posting an expected plus 1% export-driven growth this year.If financial markets/investors should allow it some breathing space 2011 might just be a little less bruising than what forecasts anticipate.As long as overdue internal adjustments are carried out within Portuguese society by strong purposeful government.
The accused is not an individual but a collective body.
Each frightened country queued up to go to the gallows wishing it may earn last-minute mercy from the executioner.Above all not wishing to be taken for someone else.Innocently paying extra for someone else's misdeeds.
Seriously, Portugal is neither Greece nor Ireland.Greece is neither Portugal nor Ireland.Ireland is neither Portugal nor Greece.Period.
There are enough differences between them - past, present and future - to warrant separate treatment from that unidentifiable entity named financial markets.Unfortunately what they've shared in common - the need to go back to the markets selling debt, perceived sluggish economic prospects (Ireland is more promising) and the fact they are smaller countries - made them very vulnerable to poaching.
Portugal has defied the worst expectations by posting an expected plus 1% export-driven growth this year.If financial markets/investors should allow it some breathing space 2011 might just be a little less bruising than what forecasts anticipate.As long as overdue internal adjustments are carried out within Portuguese society by strong purposeful government.
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