Free Republic

The economy is experiencing a golden moment thanks to exports and tourism after cleaning up its accounts. But the country has paid a price in migration of qualified workers and reduction of public services. Ten years after the departure of the “men in black” — the international managers of the European Commission, International Monetary Fund and European Central Bank who cleaned up Portugal’s accounts with a machete, the country has emerged as the most diligent student in southern Europe. In 2023, for the first time, public debt fell below 100% of GDP (it stood at 98.7%) and there was a...