Portugal halves deficit 2015-2016 having abandoned austerity policies. A lesson for the rest of Europe? Link to source provided below.?

"They are surfing the wave, which is good! So far, so good," says Lisbon-based economist João Duque. "But things may get worse in the medium and long term. We have several weaknesses, and they are not treating them."

Aside from tourism, Portugal doesn't export much besides vehicle parts, leather shoes and port wine. Public debt remains high. Most ratings agencies still classify Portuguese bonds as junk."

It aint a lesson yet

come back in say 5 years

greece did really well for a few years on borrowing other peoples money , but did not do anything to sort out its finances

Now look at the mess its in

Portugals deficit came down the result of a doubling of tourists . But tourists are fickle people - they may go back to the same place next year- they may go someplace else-

Austerity is corporate banking elite terror on the masses who didn't cause the crash time to stop using the capitalist model that only serves the few.

Look how much cash they soaked us for - of course unemployment has fallen, loads of them were forced to leave. 18% and 10% unemployment is an awful lot higher than ours. But maybe they are on to something.

Haven't we also partly ditched austerity?

LOL are they all on drugs.