LOOK at any table of European economic data and Portugal stands out. GDP growth last year, at 1.3%, was the lowest not just in the European Union but in all of Europe. Since 2000 the Czech Republic, Greece, Malta and Slovenia have all overtaken Portugal in terms of GDP per head. And Portuguese GDP per head has fallen from just over 80% of the EU 25 average in 1999 to just over 70% last year.
Portugal was the first country threatened with sanctions by the European Commission for breaching the euro zone's stability and growth pact, which sets ceilings for euro members' budget deficits.
The commission thinks Portugal's sin was to let public spending soar out of control, pushing the forecast deficit in early 2005 up to 6.8% of GDP, the highest in the euro zone.
Ironically the commission is now headed by José Manuel Barroso, a former Portuguese prime minister who ought to shoulder some of the fiscal blame.
in http://www.economist.com/
E como a vida é cheia de ironias, não ficaria nada surpreso, se um dia o "cherne" regressasse a casa como um herói e ainda fosse outra vez para o poleiro.
E como a vida é cheia de ironias, não ficaria nada surpreso, se um dia o "cherne" regressasse a casa como um herói e ainda fosse outra vez para o poleiro.
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