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Thread: Could Portugal be the first to leave the Euro ? Elder Statesman advocates default

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    Politics.ie Member cyberianpan's Avatar
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    Default Could Portugal be the first to leave the Euro ? Elder Statesman advocates default

    Here is a pretty big story:
    Portugal’s elder statesman calls for 'Argentine-style' default - Telegraph
    Portugal's leading elder statesman has called on the country to copy
    Argentina and default on its debt to avert economic collapse, a
    move that would lead to near certain ejection from the euro.

    Mario Soares, who steered the country to democracy after the
    Salazar dictatorship, said all political forces should unite to “bring
    down the government” and repudiate the austerity policies of the
    EU-IMF Troika.
    So might Portugal be the first of the PIIGS to flee the Euro ? Might Shorthall , Keaveny et al get enough on their side to try the same ?

    cYp
    "Yawn , am I alive yet ?"

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    Politics.ie Member Volatire's Avatar
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    Quote Originally Posted by cyberianpan View Post
    Here is a pretty big story:
    Portugal’s elder statesman calls for 'Argentine-style' default - Telegraph


    So might Portugal be the first of the PIIGS to flee the Euro ? Might Shorthall , Keaveny et al get enough on their side to try the same ?

    cYp
    There is one interesting difference between Portugal and Ireland (or Cyprus).

    Portugal is not an ex-colony. In fact she was a major colonial power herself. Unlike the Irish, the Portuguese understand ugly power-play.

    Unlike the toadying administrations in Dublin, Lisbon will not be pushed around easily by Berlin and Brussels.

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    Theres a definite change in the air all right its time the curtain was pulled back we want to see the wizard
    i owe my allegiance only to the working class

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    Politics.ie Member stopdoingstuff's Avatar
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    Even when on their knees, their sense of self-worth springs from internal sources, whereas the Irish management class ("rule" is not appropriate in this context) seeks and obtains validation only from external authority. The one who controls any relationship is the one who is prepared to walk away first, or at least the one who is capable of making the other person think that this is the case. This is quite a ballsy move from Soares, but we must also remember that he has in the past faced down bigger bullies that the EU, and also had the vision to look beyond the status quo and lead his country into a new era. Leaders without vision and courage are merely administrators- where are our leaders?
    Faoi mhóid bheith saor

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    Politics.ie Member Crazy horse 6's Avatar
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    Hopefully they do and we follow suit. Time for a new beginning.

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    Politics.ie Member tipp revolution's Avatar
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    Quote Originally Posted by cyberianpan View Post
    Here is a pretty big story:
    Portugal’s elder statesman calls for 'Argentine-style' default - Telegraph


    So might Portugal be the first of the PIIGS to flee the Euro ? Might Shorthall , Keaveny et al get enough on their side to try the same ?

    cYp
    Would Joan Burton be one of them?
    "Learn to live on lentils and you will not have to be subservient to the king"
    Diogenes

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    Politics.ie Member Socratus O' Pericles's Avatar
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    The truth of an idea is not a stagnant property inherent in it. Truth happens to an idea. It becomes true, is made true by events.

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    Quote Originally Posted by Volatire View Post
    There is one interesting difference between Portugal and Ireland (or Cyprus).

    Portugal is not an ex-colony. In fact she was a major colonial power herself. Unlike the Irish, the Portuguese understand ugly power-play.

    Unlike the toadying administrations in Dublin, Lisbon will not be pushed around easily by Berlin and Brussels.
    Rubbish.
    Ireland has bled Europe dry since accession like no other member state.

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    Politics.ie Member jackryan's Avatar
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    Wait and see what they have to pay for their imports! like oil!!!

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    Politics.ie Member Analyzer's Avatar
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    Portugal will endure 25% unemployment, suicides, bankruptcies, and loads of pain, before that useless phucker Barroso has to be made endure any embarrassment.

    And let's not forget, he played a similar role in the creation of Portugal's current problems, to the role Bertie the Socialist, in respect of Ireland's mess. Only he got much less time to mess things up.
    Coveney's ambition is the be Ireland's next EU Commissar and Ireland will pay a price as he builds his CV to position himself sufficiently loyal to the nEU empire.

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