Angela Merkel - Why Portugal is not Greece
Published on
The tragedy that is Greece’s economy has becoming a warning to world powers. Improper fiscal management of a nation’s economy can eventually undermine a country if not outright lead to its collapse. Not all European nations are in as dire straits as Greece. German Chancellor Angela Merkel has taken a very harsh tone with Greece has had very good words for Portugal. In particular, the Chancellor has heaped praise on the new tripartite agreement in Portugal. This agreement has led to the government of Portugal, trade union leaders, and industry bosses come to an accord on a variety of issues.
Merkel directly praised Portugal’s government led by Pedro Passos Coelho as it helped broker a wide range of agreements and concessions that have helped improve the labour market tremendously. In particular, the market has become more flexible active. These are two traits that are a must for a strong economy to thrive.
Merkel made such comments prior to the commencement of a parliamentary debate in Berlin where a €130 billion rescue plan for Greece is being sought. Greece, unfortunately, has contended with an enormous amount of strife between unions, industries, and the government. Gridlock of this nature has contributed to the inability for Greece to turn its woes around.
Among the reasons that European leaders have been trying to help with the Greek bailout is due in large part to keep the fiscal fallout from hitting Portugal. Fear exists a domino effect could occur where economic and political stability would spread if Greece’s problem is not contained.
For information of property for sale in Portugal contact the Portugal real estate team via email at: info@portugalproperty.com or call free on +44 (0) 800 0148201
Published in: News and Updates