There's reason to acknowledge that the worst has been overcome.
Should the Eurozone's recovery accelerate, the pull will be paramount for hardest hit economies to rebound consistently.
There's hardly any reason, however, to rejoice in the aftermath of as severe a downturn.
Least of all in countries like Portugal whose structural economic weaknesses and internal social imbalances have been laid bare to the naked eye. Again.
Should the Eurozone's recovery accelerate, the pull will be paramount for hardest hit economies to rebound consistently.
There's hardly any reason, however, to rejoice in the aftermath of as severe a downturn.
Least of all in countries like Portugal whose structural economic weaknesses and internal social imbalances have been laid bare to the naked eye. Again.
There are sectors whose success needs to get noticed and praised as PW points out:
Exports and tourism, but there's much more to the workings of an economy/country/society before a substantive positive assessment can be made.
Longer still will it take for the huge social cost to begin to ease.
I keep my fingers crossed as indeed I have for over two decades after identifying Portugal's persistent problems from within.
In fact, the only way forward for the country is to push ahead with every reform required.
Vested interests have to be engaged from a much harder stance that make them - upon self realization - be a part in the process.
Governments have come and gone but none has achieved an overall satisfactory performance despite promises or claims to the contrary.
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