February 22, 2012

Portugal in Danger of Being Next Greece

Christoph Pauly, Der Spiegel

AP Photo

Nothing is sacred to Pedro Passos Coelho, not even Carnival. Portugal's prime minister expects government employees at their desks and working on Entrudo, the traditional high point of the country's Carnival celebrations, which falls on this Tuesday.

 

This is "not the time to talk about tradition," the conservative head of state has commanded those of his citizens who see the move as an attack on their culture. Rather, he says, they should stop "whining" about austerity measures. It's time, the prime minister adds, to break free of old structures and to change "lazy and sometimes self-involved patterns of behavior."

Fans of Carnival celebrations are not the only ones affected -- churchgoers and nationalists will have to make bitter sacrifices as well. In...

Read Full Article ››

TAGGED: China, Greece, Portugal, Eurozone

RECOMMENDED ARTICLES

February 13, 2012
Why Greece and Portugal Should Go Bankrupt
Wolfgang Munchau, FT
Two years ago, most European policymakers still believed that Greece would pull through. They lacked experience in managing financial crises. They did not even consult with policymakers in other parts of the world who had dealt... more ››
February 14, 2012
Greece Must Leave the Euro
Jeremy Warner, Daily Telegraph
Repeated rounds of austerity are proving self defeating, which makes it virtually certain that Greece will eventually have to come back for more. What are Europe's paymasters to demand then? more ››
February 22, 2012
The Tragic Greek Sideshow
Wall Street Journal
No country should be forced to remain in the euro against its will. more ››
February 12, 2012
Democracy Ending in Land Where It Began
Chris Booker, The Telegraph
Greece's plight has alerted the world to the way the EU extinguishes democracy. more ››