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Portugal

Portugal Outlook: Restructuring Down the Line

The implementation of the IMF program’s fiscal austerity package, as well as bank funding constraints, will lead to a severe growth contraction in 2012 and 2013 which—following Greece’s example—will end in public debt restructuring in late 2013 and an eventual eurozone (EZ) exit. The difficulty in reining in expenditures this early in the consolidation program bodes ill for the end-2012 and 2013 targets of 4.5% and 3.0%, respectively. Engrained obstacles to implementing bold structural reforms are prevalent even as the new government enjoys a comfortable majority in parliament.

Read the latest Portugal Outlook

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EconoMonitors

Europe Channel

I Don't See How This Can Continue

Tim Duy Feb 2, 2012

The Kapali Carsi

More on the Eurozone Downgrades and Turkey (and other EMs)

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Dan Alpert's Two Cents

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Geostrategy Channel

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Europe Channel

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Peterson Institute for International Economics

Portugal Votes for the IMF

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Nouriel Roubini's Global EconoMonitor

A Loan and a Prayer

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Nouriel Roubini's Global EconoMonitor

Portugal: Policy Postcard From the Edge—Third Time Unlucky?

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Europe Channel

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The Wilder View

The ECB Would Quash a Discrete Shift in German Nominal GDP Rather Than Accommodate It

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The Wilder View

Egyptian CDS in Line with Portuguese CDS

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Europe Channel

Will the Irish Crisis Spread to Italy?

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Geostrategy Channel

Cross-Border Deleveraging and the Shifts in Europe's Bargaining Game

Models & Agents Nov 29, 2010

Nouriel Roubini's Global EconoMonitor

An Orderly Market-Based Approach to the Restructuring of Eurozone Sovereign Debts Obviates the Need for Statutory Approaches

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Asia Channel

Chinese Inflation and European Defaults

Michael Pettis Nov 28, 2010

Europe Channel

Quick Thoughts on the Irish Bailout

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Europe Channel

Can There Be Such a Thing as an "Orderly" Restructuring?

Models & Agents Nov 22, 2010

Geostrategy Channel

Keeping the Euro Jigsaw from Breaking Up

David Smith Nov 21, 2010

Nouriel Roubini's Global EconoMonitor

Roubini Hosts CNBC Squawk Box - Europe: Contagion 2.0

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Nouriel Roubini's Global EconoMonitor

Irish Woes Should Speed Europe’s Default Plan

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Europe Channel

It's Not About Ireland Anymore

Simon Johnson Nov 15, 2010

Europe Channel

ECB into the Breach?

Richard Smith Nov 15, 2010

Europe Channel

A CDO Cure for Europe

Satyajit Das Sep 30, 2010

Don't Shoot the Messenger

And Then There Were None

Edward Hugh Sep 27, 2010

Geostrategy Channel

The Cost of Political Instability: The Italian Case

Paolo Manasse & Giulio Trigilia Sep 27, 2010

Europe Channel

Moody’s Cuts Portugal Credit Rating Two Notches to A+

Edward Harrison Jul 13, 2010

The Wilder View

GIIPS Labor Costs Not Moving in the "Competitive" Direction

Rebecca Wilder Jun 24, 2010

Europe Channel

Wishful Thinking - Part 2

Satyajit Das Jun 17, 2010

Europe Channel

Chart of the Day: Exposures to Greece, Ireland, Portugal and Spain

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Geostrategy Channel

Wishful Thinking - Part 1

Satyajit Das Jun 16, 2010

Geostrategy Channel

French Connection: The Eurozone Crisis Worsens Sharply

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Geostrategy Channel

The Maginot Line Illusion

Peter Boone & Simon Johnson Jun 3, 2010

Geostrategy Channel

Germany: Just Another Weak Man of Europe?

Yves Smith May 24, 2010

Geostrategy Channel

Financing vs. Restructuring Greece

Paolo Manasse May 21, 2010

Global Macro Channel

No Recession in the Global Economy, but Divergence Aplenty

Claus Vistesen May 20, 2010

Geostrategy Channel

Spain Is the Perfect Example of a Country that Never Should Have Joined the Eurozone

Edward Harrison May 17, 2010

Geostrategy Channel

Making Fiscal Consolidation Work In Greece, Portugal, and Spain: Some Lessons from Argentina

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Geostrategy Channel

It's Not About Greece Anymore

Peter Boone & Simon Johnson May 6, 2010

Nouriel Roubini's Global EconoMonitor

CNBC - Roubini on the Market Fall

Nouriel Roubini May 6, 2010

Europe Channel

Europe's Web of Debt

Barry Ritholtz May 6, 2010

Europe Channel

John Taylor: "Dead Man Walking...The Euro Is Finished"

Tyler Durden May 6, 2010

Geostrategy Channel

The Escalating Greek Debt Crisis: What Has Been Happening and Where Is It Going?

Michael Arghyrou & John Tsoukalas May 6, 2010

Geostrategy Channel

Greece, Germany, and the Dangers of Beggar Thy Neighbor

Yves Smith May 5, 2010

Nouriel Roubini's Global EconoMonitor

Roubini Concerns About the Future of the EMU - World Economic Forum, Davos, 2006

Nouriel Roubini May 5, 2010

Geostrategy Channel

Giving Reform a Chance

Models & Agents May 3, 2010

Nouriel Roubini's Global EconoMonitor

The Crisis Will Spread Without a Plan B

Nouriel Roubini Apr 30, 2010

Nouriel Roubini's Global EconoMonitor

Roubini CNBC and Bloomberg Reports on Greece Crisis, European Union

Nouriel Roubini Apr 29, 2010

The Wilder View

Greece – GIIPS – Eurozone - Big Problem

Rebecca Wilder Apr 28, 2010

Nouriel Roubini's Global EconoMonitor

The Debt Death Trap

Nouriel Roubini Apr 20, 2010

Geostrategy Channel

Was Greece Rescue Futile and Is Portugal Next?

Yves Smith Apr 19, 2010

Geostrategy Channel

The Next Global Problem: Portugal

Peter Boone & Simon Johnson Apr 15, 2010

Geostrategy Channel

Greece Saved for Now – Is Portugal Next?

Peter Boone & Simon Johnson Apr 12, 2010

Geostrategy Channel

March Madness

Rob Parenteau Mar 8, 2010

Europe Channel

Euro, Au Revoir? PIIGS’ Term Structure of Default Probabilities

Paolo Manasse Feb 23, 2010

Europe Channel

European Hangover

Walter Molano Feb 17, 2010

Nouriel Roubini's Global EconoMonitor

Will Europe's PIGS Learn to Fly?

Nouriel Roubini Feb 11, 2010

Latin America Channel

The New Banana Republics

Antonio Carlos Lemgruber Feb 11, 2010

Global Macro Channel

Insolvent European vs American States

Barry Ritholtz Feb 10, 2010

Europe Channel

Reigniting Growth in Emerging Europe

Marek Belka Feb 10, 2010

Europe Channel

How Far Will the PIIGS Fly?

Paolo Manasse Feb 10, 2010

Nouriel Roubini's Global EconoMonitor

Roubini Bloomberg Interview on Sovereign Debt and U.S. Outlook

Nouriel Roubini Feb 6, 2010

Nouriel Roubini's Global EconoMonitor

Sovereign Risk Meets Sovereign Reality

Ian Bremmer Feb 5, 2010

Nouriel Roubini's Global EconoMonitor

Medicine for Europe’s Sinking South

Nouriel Roubini Feb 2, 2010

Don't Shoot the Messenger

After Greece, and Portugal, Does Spain Come Next?

Edward Hugh Jan 31, 2010

The Wilder View

Bond Markets Soaking up Greece

Rebecca Wilder Jan 25, 2010

The Wilder View

National Saving Rates Across Europe: Diverse

Rebecca Wilder Jan 24, 2010

Nouriel Roubini's Global EconoMonitor

The Risky Rich

Nouriel Roubini Jan 18, 2010

Global Macro Channel

Buiter: “It’s Five Minutes to Midnight for Greece”

Edward Harrison Dec 9, 2009

Daily Digest

News

Portugal pressed to restructure

International Financin Review  Feb 03, 2012

News

Portugal borrowing costs fall after ECB action

Financial Times  Feb 01, 2012

News

Discipline not enough for Lisbon

Financial Times  Jan 30, 2012

News

Portuguese debt looms over Europe

Financial Times  Feb 01, 2012

News

Portugal presses on with reforms

Financial Times  Tony Barber Feb 02, 2012

Blogs

Is Portugal really the next Greece?

Brussels Blog  Peter Spiegel Feb 01, 2012

Analysis

Greece, Ireland, Portugal: More growth via innovation

Deutsche Bank  Antje Stobbe and Peter Pawlicki Jan 27, 2012

News

Fears Grow for Portuguese Economy

Wall Street Journal  Jan 23, 2012

Analysis

Portugal Outlook: Restructuring Down the Line

Roubini Global Economics  Elisa Parisi-Capone Jan 16, 2012

News

European shares set to fall on S&P downgrade

Reuters  Jan 16, 2012

News

Portugal condemns ‘inconsistent’ S&P downgrade

Financial Times  Jan 15, 2012

Analysis

Portugal: Economic Bulletin - Winter 2011

Bank of Portugal  Jan 12, 2012

Analysis

IMF Survey: Portuguese Program

IMF  Dec 22, 2011

Analysis

Understanding Eurozone debt developments by nation

VoxEU  Gianluca Cafiso Jan 05, 2012

Analysis

Portugal: Progress on reforms, European Commission

European Commission  Dec 21, 2011

Analysis

Austerity set to increase inequality in Portugal

Financial Times  Dec 23, 2011

News

First Atlantic Floating Offshore Wind Turbine Deployed

Renewable Energy World   Dec 08, 2011

Analysis

Financial Stability Report - November 2011

Bank of Portugal  Nov 30, 2011

Analysis

Eurogroup: Better than nothing

Danske Bank  Anders Møller Lumholtz Nov 30, 2011

News

Problems in Ireland and Portugal Pose Broader Risks

The Wall Street Journal  Charles Forelle Nov 25, 2011

News

Fitch downgrades Portugal to junk status

The Economic Times  Nov 24, 2011

News

Fitch cuts Portugal rating to junk status

Reuters  Nov 24, 2011

Analysis

Portugal: Assessing the risks

Unicredit Bank  Tullia Bucco, Erik F. Nielsen and Gillian Edgeworth Nov 17, 2011

News

Portugal’s Third-Quarter GDP Drops 0.4% From Second Quarter

Bloomberg  Joao Lima Nov 14, 2011

Research

European Economic Forecast - Autumn 2011

European Commission  Nov 10, 2011

Opinions

Down with the Eurozone

Project Syndicate  Nouriel Roubini Nov 11, 2011

Blogs

Europe’s Economy is Falling Apart

naked capitalism  Yves Smith Oct 31, 2011

News

Portugal seeks flexibility on bail-out

Financial Times  Oct 31, 2011

Opinions

Portugal and the euro: In the mire

The Economist  Oct 22, 2011

News

S&P Warns of Downgrades If a New Recession Hits

The Wall Street Journal  Art Patnaude Oct 21, 2011

News

Portugal Says GDP to Shrink More Than Earlier Forecast

Bloomberg  Joao Lima and Anabela Reis Oct 18, 2011

News

Portugal 2012 budget bill sees deep recession

Reuters  Oct 18, 2011

News

Portugal Budget 'Bold'; Need Comprehensive Crisis Solution

Wall Street Journal  Oct 18, 2011

News

Portugal Unveils Deep Cuts

The Wall Street Journal  Patricia Kowsmann Oct 18, 2011

Opinions

Recapitalising Europe’s banks- Cushion calculations

The Economist  Oct 15, 2011

Research

ECB: Monthly Bulletin, Octoberr 2011

European Central Bank  Oct 13, 2011

Analysis

August Industrial Production In The Euro-Area

Haver Analytics  Oct 10, 2011

Analysis

Can contagion from Greece to Italy be prevented?

Natixis Bank  Patrick Artus Oct 04, 2011

Analysis

Rebalancing across southern peripheral countries – The challenge ahead

Unicredit Bank  Tullia Bucco Oct 03, 2011

Blogs

Core Europe Sitting Pretty in their PIIGS Drawn Chariot

naked capitalism  Marshall Auerback and Warren Mosler Oct 04, 2011

News

MF Urges EU Banks To Raise Capital

The Wall Street Journal  Sudeep Reddy Sep 22, 2011

Analysis

Should the ECB get involved in sovereign CDS?

Natixis Bank  Patrick Artus Sep 16, 2011

Analysis

Euro-Area Looks Good But It’s Not to be Believed

Haver Analytics  Robert Brusca Sep 14, 2011

Analysis

Either the ECB or Germany will have to give up its principles ("eat its hat")

Natixis Bank  Patrick Artus Sep 08, 2011

Opinions

The Saver’s Dilemma

Project Syndicate  Daniel Gros Sep 06, 2011

News

Europe Signals Global Gloom

Wall Street Journal  Blackstone and Stevens Sep 06, 2011

Blogs

VAT gap in Portugal

The Portuguese Economy  Francesco Franco Sep 01, 2011

Analysis

Cash vs. CDS sovereign markets (I)

Natixis Bank  Sophie Chardon, Cyril Regnat, Amandine Boulay and Simon Delbos Aug 31, 2011

Analysis

EFSF: The ambition, but not yet the means?

Natixis Bank  Cyril Regnat Aug 29, 2011

Opinions

Debating the Common Currency: 'Euro Bonds Would Destroy the Euro'

Spiegel Online Interview  Hans-Werner Sinn and Henrik Enderlein Aug 23, 2011

Analysis

Monitor: Euro debt crisis watch, August 2011

Danske Bank  Lars Tranberg Rasmussen Aug 22, 2011

Analysis

What bonus/penalty system for the eurobond?

Natixis Bank  Patrick Artus, Thibaut Cuillière and Badr El Moutawakil Aug 22, 2011

News

EU aid for sacked Portuguese

European Voice  Ian Wishart Aug 18, 2011

Analysis

The European Central Bank as a lender of last resort

VoxEU  Paul De Grauwe Aug 18, 2011

Analysis

Portugal - Economic forecast summary

OECD  May 25, 2011

Blogs

A Portuguese silver lining?

FT Alphaville  Peter Spiegel Aug 17, 2011

Opinions

Eurobonds: Europe need not wait for Germany

Financial Times  Martin Sandbu Aug 16, 2011

Opinions

Interview with George Soros- 'You Need This Dirty Word, Euro Bonds'

Spiegel  Thomas Schulz and Gregor Peter Schmitz Aug 15, 2011

Analysis

August 2011: What to do when the euro crisis reaches the core?

CEPS Centre for European Policy Studies  Daniel Gros and Thomas Mayer Aug 15, 2011

News

ECB buys €22bn in eurozone bonds

Financial Times  Ralph Atkins and Richard Milne Aug 15, 2011

Blogs

How close is a European double dip?

The Economist  RA Aug 12, 2011

News

Portugal bail-out 'on track', say EU, IMF

European Voice  Toby Vogel Aug 12, 2011

News

Portugal Receives Bailout Endorsement

The Wall Street Journal  Aug 12, 2011

Analysis

Europe: Four steps to fiscal union

Financial Times  Tony Barber Aug 12, 2011

Analysis

ECB Monthly Bulletin, August 2011

ECB  Aug 11, 2011

News

EU divided over when to meet, what to discuss

EurActiv  Aug 10, 2011

Opinions

Beware the ECB’s brave new world

Financial Times  Martin Sandbu Aug 10, 2011

Research

Labour-market reforms: Lessons from Portugal

VoxEU  Alessandro Turrini Aug 10, 2011