World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Keywords:
Patricia Kowsmann provides this picture of life in a town on Portugal's northern coast, Viana do Castelo, with a population of 87,000, as Portugal struggles to make a recovery. Viana do Castelo has shipyards and companies making metal bridges for highways. The money losing state owned shipyard was privatized and sold to Martifer SGPS SA to run till 2031. 600 workers at the shipyard were laid off. The new company plans to rehire 400 workers by 2016 but jobs will not be permanent. Companies making the bridges now sell to former Portuguese colonies of Angola, Mozambique, Brazil. 200,000 people have left the country to look for jobs or higer education, including the mayor's daughter in London. Exports are up and now make up 40% of Portugal's GDP, up from 27% in 2009. The economic growth is 0.9% in 2014, after declining 6% 2011-2013. Portugal accepted the last instalment of the bailout loan of 78 billion euros in 2014. It will auction 1.25 billion euros of bonds on July 22, 2015. Unemployment is now declining dropping to 14% from a high of 17%, and higher than the pre crisis level of 11%. Here in this coastal town the mayor Jose Maria Costa cut public employee salaries 15%, and also cut sports and cultural programs. Two food centers provide free lunch and dinner, and half of the 4000 children in school get subsidies for food and transport. A shipyard worker Antonio Gomes Barbosa 64, is one of the laid off workers. His son's architecture company closed and he left Portugal for Angola. Some of his co-workers now work at a shipyard in neighboring Spain.
Angolan investments in Portugal's economy and reverse migration
09/03/2011
Grouped Articles
For Banco Espírito Santo, Questions Over Angolan Subsidiary
New York Times 07/29/2014
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Wall Street Journal 07/20/2015
Angola and Portugal: Role reversal
Economist 09/03/2011
Portugalâs Financial Crisis Leads It Back to Angola
New York Times 11/19/2011
Portugal Dominated Angola for Centuries. Now the Roles Are Reversed.
The New York Times 08/22/2017
Angola’s New Leader Faces Daunting Turnaround Task After Disputed Vote
WSJ 08/25/2017
Improvements in current account deficits of Ireland, Portugal and Spain and the Rebalancing moves in the European Union
09/25/2011
The sharp decline in imports and the improvement in exports in Ireland and Spain is providing a ray of hope for the needed rebalancing of economies in Europe. This would not put the entire burden of the rebalancing on falling wages. Greece is an exception because of falling imports and exports as a result of the widespread economic dislocation.
Grouped Articles
New York Times 09/25/2011
Ireland Makes Moody's Less Blue
Wall Street Journal 09/23/2013
German Optimism Depends On Spanish Deficits
Wall Street Journal 09/25/2013
Portugal's Shoemakers Bet on Quality
Wall Street Journal 03/08/2014
Euro Zone Deficit Hits Target for First Time Since 2008
New York Times 04/23/2014
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Wall Street Journal 07/20/2015
Investor sentiment for Portugal's bonds 2012-2015
07/02/2014
Grouped Articles
Portugal, Ireland Make New Forays Into Capital Markets
Wall Street Journal 07/02/2014
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Wall Street Journal 07/20/2015
Portugal's credit ratings
07/05/2011
Grouped Articles
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Wall Street Journal 07/20/2015
Shares and the Euro Decline on Portugal Downgrade
New York Times 11/24/2011
Portugal Borrowing Costs Hit New Highs
Wall Street Journal 01/31/2012
Lisbon Losing Control of Financial Destiny
Wall Street Journal 01/31/2012
As Talks in Greece Continue, Investors Now Worry About Portugal
New York Times 02/01/2012
6 European Nations Get Downgrades
New York Times 02/13/2012
Portugal's shoe industry exports, a bright spot in the trade balance
03/08/2014
Grouped Articles
Portugal's Shoemakers Bet on Quality
Wall Street Journal 03/08/2014
Buoyed by Exports, Portugal Chooses Clean Exit From Bailout
New York Times 05/04/2014
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Wall Street Journal 07/20/2015
Portugal Dared to Cast Aside Austerity. It’s Having a Major Revival.
New York Times 07/22/2018
Why Portugal is different from Greece in 2012-2013, and yet may find its debt unsustainable as the economy shrinks- the situation in 2012-2013
04/30/2010
Portugal is taking vigorous steps without social unrest, including spending cuts that will stabilize the deficit, labor reform, and increasing exports through trading links to Africa and Latin America. Portugal needs to borrow about 10 billion euros in 2012 and the ratings downgrade has hurt Portugal by raising rates on new borrowing to about 20%. The economy is expected to shrink by 3% in 2012.
Grouped Articles
Ratings Gag Is No Joking Matter
Wall Street Journal 07/12/2011
Greece Gets New Bailout as U.S. Nears Brink
Wall Street Journal 07/22/2011
Portugal Returns to Bond Market
Wall Street Journal 05/08/2013
Idea of Euro Exit Finds Currency in Portugal
Wall Street Journal 05/27/2013
The Next Global Problem: Portugal
New York Times 04/30/2010
Portugal Emerges From Recession
Wall Street Journal 08/15/2013
The debt crisis that Portugal faces, after the crisis in Greece.
04/30/2010
Greece and Portugal are in much riskier shape than Argentina was when it defaulted in 2001, argues Simon Johnson.
Grouped Articles
Portugal Returns to Bond Market
Wall Street Journal 05/08/2013
Idea of Euro Exit Finds Currency in Portugal
Wall Street Journal 05/27/2013
Wall Street Journal 02/11/2014
Greece Defaults on IMF Loan Despite New Push for Bailout Aid
Wall Street Journal 07/01/2015
Greece, Missing I.M.F. Payment, Is Called Effectively in Default
New York Times 06/30/2015
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Wall Street Journal 07/20/2015
Portugal's economy 2015-2016
07/20/2015
Grouped Articles
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Wall Street Journal 07/20/2015
Pedro Passos Coelho, Who Led Austerity Plan in Portugal, Nears Re-Election
New York Times 10/02/2015
Portugal’s President Clears the Way for a New Government
New York Times 10/22/2015
Portugal Dared to Cast Aside Austerity. It’s Having a Major Revival.
New York Times 07/22/2018
Viana do Castelo and its mayor Jose Maria Costa- a coastal town in Portugal as the economy recovers in 2015
07/20/2015
Grouped Articles
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Wall Street Journal 07/20/2015
Portugal’s President Clears the Way for a New Government
New York Times 10/22/2015
Portugal Dared to Cast Aside Austerity. It’s Having a Major Revival.
New York Times 07/22/2018
Deficits as a percentage of GDP for Spain, Italy, Ireland, Portugal and Greece 2011-2013
04/30/2010
Grouped Articles
Italy Urged to Resist a Relapse in Spending
Wall Street Journal 05/03/2013
Europe to Vote on Tougher Rules for Currency
New York Times 09/27/2011
Portugal Plans Cuts in Spending
Wall Street Journal 05/30/2013
A Warning Light to Alert the I.M.F.
New York Times 09/21/2011
The Next Global Problem: Portugal
New York Times 04/30/2010
German Optimism Depends On Spanish Deficits
Wall Street Journal 09/25/2013
Immigration from Spain and Portugal to Brazil and other countries 2010-2014
01/14/2012
Immigration from Spain with the eurozone financial crisis and high unemployment in Spain.
Grouped Articles
Desperation Fuels Trips of Migrants to Spain
New York Times 10/04/2013
Spain’s Unemployment Declines in 2014
Wall Street Journal 01/05/2015
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Wall Street Journal 07/20/2015
Exodus of Workers From Continent Reverses Old Patterns
Wall Street Journal 01/14/2012
Spain faces unemployment pain after embracing austerity in European crisis - The Washington Post
Washington Post 02/19/2012
Spain, Pursuing Austerity, Still Waits for the Payoff
New York Times 04/27/2012
Portugal's exit from the EU bailout and gradual recovery in 2014
04/26/2014
Grouped Articles
Portugal Set for Clean Exit from Bailout Program
Wall Street Journal 04/26/2014
Buoyed by Exports, Portugal Chooses Clean Exit From Bailout
New York Times 05/04/2014
Bailout Is Over for Portugal, but Side Effects Will Linger
New York Times 05/05/2014
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Wall Street Journal 07/20/2015
Pedro Passos Coelho, Who Led Austerity Plan in Portugal, Nears Re-Election
New York Times 10/02/2015
Portugal Dared to Cast Aside Austerity. It’s Having a Major Revival.
New York Times 07/22/2018
Portugal's exports 2012-2014
03/25/2011
Grouped Articles
New York Times 09/25/2011
Idea of Euro Exit Finds Currency in Portugal
Wall Street Journal 05/27/2013
After a Recession in Portugal, the Tiny Green Fruits of Success
New York Times 08/28/2013
Portugal's Shoemakers Bet on Quality
Wall Street Journal 03/08/2014
Buoyed by Exports, Portugal Chooses Clean Exit From Bailout
New York Times 05/04/2014
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Wall Street Journal 07/20/2015
Portugal's sale of state owned assets in 2011-2013
12/23/2011
Grouped Articles
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Wall Street Journal 07/20/2015
China Gets Stake in Portugal's EDP
Wall Street Journal 12/23/2011
As Talks in Greece Continue, Investors Now Worry About Portugal
New York Times 02/01/2012
Portugal- politics and government 2011-2016
03/26/2011
Grouped Articles
Portugal's Government Thrust Into Turmoil
Wall Street Journal 07/03/2013
Lisbon Cabinet Shuffle Buoys Junior Coalition Party Leader
Wall Street Journal 07/08/2013
Portugalâs President Calls for Early Elections
New York Times 07/11/2013
Outsiderâs Victory in Portugal Reflects Continentâs Discontent
New York Times 11/07/2013
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Wall Street Journal 07/20/2015
Pedro Passos Coelho, Who Led Austerity Plan in Portugal, Nears Re-Election
New York Times 10/02/2015
Portugal- government debt, ratings and borrowing costs
10/23/2010
Grouped Articles
Ratings Gag Is No Joking Matter
Wall Street Journal 07/12/2011
Return of Long-Term Bond Buyers Seen as Crucial to Europe
New York Times 06/29/2012
Greece Gets New Bailout as U.S. Nears Brink
Wall Street Journal 07/22/2011
Wall Street Journal 05/07/2013
Portugal Returns to Bond Market
Wall Street Journal 05/08/2013
Portugal's Government Thrust Into Turmoil
Wall Street Journal 07/03/2013
Faces in Portugal in 2015 as it struggles to make an economic recovery
08/28/2013
Grouped Articles
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Wall Street Journal 07/20/2015
After a Recession in Portugal, the Tiny Green Fruits of Success
New York Times 08/28/2013
Portugal’s President Clears the Way for a New Government
New York Times 10/22/2015
Portugal Dared to Cast Aside Austerity. It’s Having a Major Revival.
New York Times 07/22/2018
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us