Economy

xchrom

(108,903 posts)

9. Portugal exits bailout poorer and long way from recovery

Fri May 16, 2014, 06:54 AM

May 2014

http://uk.reuters.com/article/2014/05/16/uk-eurozone-portugal-bailout-idUKKBN0DW0N520140516

(Reuters) - As Portugal's government toasts its exit from an international bailout that imposed years of austerity on its citizens, small business owner Alexandra Capelo is in no mood to join the celebrations.

From Lisbon's poorer neighbouring city of Almada across the River Tagus, 42-year-old mother of two Capelo is one of the nearly 800,000 people, or 15 percent of the workforce, still unemployed as the country takes back control of its finances.

"Things have gotten worse since last year, business and job-wise," said Capelo, who has relied on a home-based sweets business to supplement her jobless benefits since being laid off as a graphic designer in January.

On Saturday, Portugal becomes the second euro zone state after Ireland to exit a bailout, having stuck to the European Union's recipe of belt-tightening to beat the euro zone crisis.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

47 replies

= new reply since forum marked as read

Highlight:

STOCK MARKET WATCH -- Friday, 16 May 2014 [View all] Tansy_Gold May 2014 OP

The Bigger (Jerks) They Are, the Harder They Fall Demeter May 2014 #1

It was foreseen in The Simpsons BadgerKid May 2014 #2

Really? Demeter May 2014 #3

Things are bizarre all over Demeter May 2014 #4

How Offshore Finance Sank Western Soft Power.... Ben Judah Demeter May 2014 #5

Modi wins India's election with a landslide, early results show xchrom May 2014 #6

U.S. warns China its actions in sea disputes are straining relations xchrom May 2014 #7

Credit Suisse nears $2.5 billion settlement to end tax-evasion probe - Sources xchrom May 2014 #8

Portugal exits bailout poorer and long way from recovery xchrom May 2014 #9

Exclusive - Iran pursues ballistic missile work, complicating nuclear talks xchrom May 2014 #10

Tim Geithner and the Wall Street Bailout Redux by Robert Reich xchrom May 2014 #11

Those aren't bubbles, they're cow pies Demeter May 2014 #13

Geithner must give S&P documents in U.S. fraud lawsuit: filing Demeter May 2014 #18

San Francisco protesters target �Dirty Dozen� tech landlords over rise in tenant evictions xchrom May 2014 #12

I see a big real estate collapse in the near future Demeter May 2014 #14

Obamas Had Up to $7 Million in Assets in �13, Records Show Demeter May 2014 #15

Money laundering? If you mean as in cleaning out your own bank account. . . . Tansy_Gold May 2014 #42

Not if you have a Sugar Daddy contract and lots of poeple to buy bulk Demeter May 2014 #43

But that's not money laundering Tansy_Gold May 2014 #45

How 'microjobs' help you ditch your boss Demeter May 2014 #16

No bosses is nice. Fuddnik May 2014 #29

Now I am green with envy Demeter May 2014 #33

You know, of course, that this can have huge impact on your insurance Tansy_Gold May 2014 #41

Civil Servants Circled By Foes: Misunderstood at the Helm of the EU xchrom May 2014 #17

When one lacks vision, one goes for surveillance Demeter May 2014 #34

Bad Banks for Nuclear Plants: Utilities Look to German Taxpayers xchrom May 2014 #19

Jill Abramson Paid Much Less Than Men At The New York Times For Over A Decade: Report Demeter May 2014 #20

Violent anti-China rallies in Vietnam pose �huge dilemma� for the U.S. xchrom May 2014 #21

INDIA STOCKS LEAP AS VOTE COUNT FAVORS MODI WIN xchrom May 2014 #22

GERMAN OFFICIAL MULLS BREAKING UP GOOGLE xchrom May 2014 #23

BAILOUT ENDS BUT AUSTERITY STAYS FOR PORTUGAL xchrom May 2014 #24

UNEVEN GLOBAL ECONOMY A TEST FOR CENTRAL BANKS xchrom May 2014 #25

YELLEN: SMALL BUSINESSES ARE DRIVING JOB GROWTH xchrom May 2014 #26

Psst! It's the Weekend, pass it on... Demeter May 2014 #27

I've lost my mind and thought I would... Hotler May 2014 #28

Mind over matter Demeter May 2014 #30

If you find your, see if mine is around somewhere. Fuddnik May 2014 #31

you haven't lost it... i stole it! xchrom May 2014 #39

Sweet!....... Hotler May 2014 #47

Quite a struggle at open to get into positive territory Demeter May 2014 #32

Still not there at noon Demeter May 2014 #44

The markets are jittery because the Teabillies are overthrowing the government today. Fuddnik May 2014 #46

Bitcoin Foundation hit by resignations over new director Demeter May 2014 #35

U.S. regional banks tip-toe into commodities as Wall Street faces shake-out Demeter May 2014 #36

Feds recommend prison sentence for ex-Detroit Water Chief Demeter May 2014 #37

Morality Police in Your Checking Account: Chase Bank Shuts Down Accounts of Adult Entertainers Demeter May 2014 #38

Robert Reich: Why Timothy Geithner Is Deluded About the Bailout Demeter May 2014 #40