Posted on 04/13/2011 1:36:37 AM PDT by bruinbirdman
"IMF anticipates austerity effects and predicts recession and unemployment record for 2012", Público headlines as experts from the European Commission and the IMF – already in Lisbon – fix the terms of the bailout with Portugal’s government. According to their figures, Portugal faces an economic contraction of 1.5% in 2011 and 0.5% in 2012, while unemployment is set to reach 12.4% in 2012. Público adds that Portugal’s economy is set to be the worst performing in the EU in 2012, while Greece and Ireland will already be on the way to recovery. According to the Lisbon daily, the EU and IMF experts’ “biggest preoccupation” will be with reform to employment rules, tenancy agreements, and cutting expenses in the judiciary, noting that Portugal might "pay less for the rescue package than Ireland and Greece".
Tra-la-la-la... whistlin’ as we mosey on past the graveyard for the Euro...
The whole EU/Euro situation would be funnier if we weren’t being dragged into defending their oil supply in Libya right now.
Not to mention how we are trying many of the ideas that have failed in the Eurozone over the years. Socialized health care, “Green Technology”, expanded nanny state, excessive spending, runaway debt, uncontrolled immigration, ect...ect.
All of the above have failed spectacularly over there, but the American Leftists are so ‘married’ to their ideology, we’ll all be dammed before we wise up and learn from THEIR mistakes....
> while Greece and Ireland will already be on the way to recovery.
Hahahahahahahaha - stopped reading right there.
And our horizons are just as dark, just a bit more distant.
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