irish times view

[martin]

interesting article form the irish times

see here

http://www.irishtimes.com/newspaper/opi ... 36391.html

[biffa]

Hits the nail on the head in some ways but inaccurate in others. It is now simple to set up a company within a few hours but who wants to take chances on new business at this uncertain moment?! Profligate Government spending and "jobs for the boys" (not only y this last Government I add) has created a debt burden that is now unsustainable.

Oh Portugal! Oh Portugal!

[joeysoap]

in Vilamoura couple of weeks ago was surprised at the number of very large yachts which bore Lisbon as their place of registration. there are obviously plenty of very wealthy Portuguese citizens. anyone know of the proportion of wealthy/breadline to population?

[martin]

perhaps its true here in Portugal what a writer said of Greece

"its a poor country full of rich people"

[Bruce Wallis]

That is one of the best articles on this subject that I've read in a long time.

Poor Portugal, virtually held back in the 19th century by Salazar, (apologies for spelling)
Came out from under his yoke in the 70s, and probably should never have fallen for the economic bribes of joining the EU.

I'm no economist, but I get the feeling that if Portugal had been allowed to develop with the friendly assistance of the EU, rather than membership, then maybe it would have progressed more "safely"

The EU has given this country alot in terms of infrastructure, and financial aid....but was she....or Greece really ready for it??

I dont know the answers to these questions, or even if they are the correct questions to ask.

The one bit of the article I can totally agree with is that this country is almost smothered in red tape.
A hangover , I suspect, from the Salazar regime, and an almost eastern block method of keeping the unemployment figures down.

[pato]

I would guess the "black" economy is also a major problem to the financial stability of the country, it seemas rife in the Algarve, I couldn't say how the other parts of the country operate but it must cost them billions in lost revenue.
Regarding the yacht's, well, they may be registered in Lisbon but that doesn't say they're Portuguese owned, I think you can register your boat wherever you like, or maybe I'm wrong,

[biffa]

I think quite a few of those luxury boats were acquired with EU cash!

[Rampage]

...and owned by Euro MPs no doubt!

[biffa]

quote="martin"]interesting article from the irish times

When I first saw this post from Martin I thought it was going to be Graham Grooms view of the economy! I was so disappointed