Battle Royal In Portugal

Obviously, convincing people of hari-kiri type economic policies simply to maintain the SGP (I say ‘simply’, but I imagine you understand what I mean) was never going to be easy for a growth strapped Portugal. Well, the finance minister has just resigned citing ?personal and family reasons? as well as fatigue.

“A new Portuguese finance minister was hurriedly sworn in yesterday as the Socialist government sought to reassure financial markets that the surprise resignation of his predecessor would not weaken efforts to cut the biggest budget deficit in the European Union.

Lu?s Campos e Cunha, the architect of a programme of tough measures to cut public spending, quit unexpectedly late Wednesday only four months after the centre-left government took office…..

But his decision to quit came amid a clash within the government and the Socialist Party over a plan to invest billion of euros in a new Lisbon airport, high-speed rail services and other infrastructures.

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About Edward Hugh

Edward 'the bonobo is a Catalan economist of British extraction. After being born, brought-up and educated in the United Kingdom, Edward subsequently settled in Barcelona where he has now lived for over 15 years. As a consequence Edward considers himself to be "Catalan by adoption". He has also to some extent been "adopted by Catalonia", since throughout the current economic crisis he has been a constant voice on TV, radio and in the press arguing in favor of the need for some kind of internal devaluation if Spain wants to stay inside the Euro. By inclination he is a macro economist, but his obsession with trying to understand the economic impact of demographic changes has often taken him far from home, off and away from the more tranquil and placid pastures of the dismal science, into the bracken and thicket of demography, anthropology, biology, sociology and systems theory. All of which has lead him to ask himself whether Thomas Wolfe was not in fact right when he asserted that the fact of the matter is "you can never go home again".