The Memorandum
of Understanding on Specific Economic Policy Conditionality, signed between
the Portuguese Government and the European Union, the IMF and ECB, on 3 May
2011, was praised by a large number of Portuguese politicians, economists, and
a considerable share of the public, from socialists to social-democrats and
Christian democrats. The 34-pages long document was declared by many as an
amazing, in-depth and detailed exercise, imposing measures that would overhaul
the Portuguese economy, the State or the judiciary, in order to put the country
in the right track and never default again in the future. The first press
conference of the Troika
representatives, on 5 May 2011, was attended massively by the media, and
received widespread attention by a thrusting public, eager for a definite
solution for the domestic economic problems. Since then, all has changed. The Troika representatives do not appear in
press conferences or under the public eyes any longer and the number of politicians
and economists that still praise its role has been reduced to a few diehards of
austerity. This talk argues that the initial popularity of the Memorandum and the Troika is the outcome of a long-standing misperception of
Portugal’s growth potential and position in Europe, which has long roots back
in History. The analysis of the Troika experience,
however, may be a valuable contribute to a better understanding of the problems
facing the Portuguese economy within the European Union. Here.
Saturday 9 November 2013
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Pedro you might want to specify the date of the conference
ReplyDeleteRight, it's 12 November. Thanks
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