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Portugal: Economic Recovery But Massive Debt And A Fragile Banking System Remain

Portugal: Economic Recovery But Massive Debt And A Fragile Banking System Remain

In November of 2015, Antonio Costa the incoming Socialist Prime Minister of Portugal, was able put together a government, by aligning himself with the far left. There were many who felt this political coalition would be short-lived, since it seemed unworkable. His campaign pledge had been to reverse the punishing austerity measures but, to also meet quite challenging fiscal targets. Due to an improving economy and fiscal discipline, the government under the leadership of Prime Minister Costa, was able to reduce the […]