Portugal: National Recovery and Lessons for the Eurozone
Background discussion with
Secretary of State for European Affairs, Ministry of Foreign Affairs, Republic of Portugal
Portugal has been among the countries most affected by the crises in the euro area. After an initial adjustment phase that put the emphasis on fiscal discipline, the current government of Prime Minister António Costa has adjusted the economic and fiscal policy mix to enhance growth, while still managing to meet the country’s international commitments. This raises two sets of questions. From a national perspective: Are Portugal’s current recovery measures sustainable? From a European perspective: What lessons can the euro area draw from the European sovereign debt crisis and Portugal’s case in particular? To what extent have Portugal and its European partners arrived at a shared understanding of the causes of the debt crisis – and has this contributed to finding common solutions? Is the euro area today better prepared for the next crisis, and what changes are still necessary?
Chair and commentator:
Otto Wolff Director, Research Institute, DGAP
The event is organized by the Alfred von Oppenheim Center of the DGAP.