Portugal

12:58pm

Mon February 20, 2012
Europe

Portugal Plays By The Rules, But Economy Slumps

Originally published on Tue February 21, 2012 9:25 am

A once-bustling vegetable market in Lisbon is now beyond the reach of many Portuguese — a sign of their country's economic problems.
Sylvia Poggioli NPR

The eurozone crisis has focused attention on debt-burdened Greece spiraling into decline. Meanwhile, Portugal is seen as the international creditors' poster-child for obediently slashing spending and welfare benefits.

Nevertheless, the Portuguese national debt continues to grow, and the country is mired in recession and soaring unemployment.

The Portuguese national character has long been identified with Fado music. Raquel Freire, an activist with the local Occupy movement, says the melancholy style helps explain decades of resignation.

Read more

Pages