A heavy economic burden to bear

AFTER all the election promises and daily U-turns, I wonder can this new government speak the bare truth surrounding bondholders now that Portugal has capitulated?

Worryingly, this new government is continuing to subject our society to the same economic model as its predecessors. A model that doesn’t exist in economic theory and one that seems to be changed and tweaked to accommodate “political sensitivities” — in other words the demands of Germany, France and the ECN.

Billions have already been taken out of our domestic economy with yet more to come, billions borrowed and it just has no effect. Portugal didn’t have a banking problem or a property bubble that has brought them down, rather a loss of competitiveness and a less than sophisticated economy. European “one size fits all” solutions simply do not work.