The government's planning generous tax breaks for young people to encourage them to stay. But even that might not be enough.
Al Jazeera’s Jonah Hull reports from Lisbon, Portugal.
Democracy is an illusion! It’s become a political system fostered by the élite, for the élite, in order to fool the people that they have a stake in the system. In actual fact, they have virtually none. The whole political system in the modern era, despite having noble beginnings, is now used to benefit the few at the expense of the many. – Mark Alexander, June 29, 2018
Showing posts with label Portuguese economy. Show all posts
Showing posts with label Portuguese economy. Show all posts
November 22, 2024
Portugal Brain Drain: Young Professionals Flee Stagnating Economy
Nov 17, 2024 | A stagnant economy and spiraling cost of living in Portugal are forcing a generation of young people to seek opportunities elsewhere - a brain drain that costs the economy billions of dollars in lost revenue.
The government's planning generous tax breaks for young people to encourage them to stay. But even that might not be enough.
Al Jazeera’s Jonah Hull reports from Lisbon, Portugal.
The government's planning generous tax breaks for young people to encourage them to stay. But even that might not be enough.
Al Jazeera’s Jonah Hull reports from Lisbon, Portugal.
Labels:
brain drain,
Portugal,
Portuguese economy
April 07, 2011
THE DAILY TELEGRAPH: Portugal last night became the third European Union country after Greece and Ireland to formally request an emergency bail–out which could cost Britain £4.4 billion.
The country's caretaker prime minister José Sócrates said the measure had been taken after the stricken nation had run out of options.
Economists last night put the UK's involvement in a Portuguese bail–out at up to a potential £4.4billion.
After months of resisting having to apply for a bail–out from the EU and the International Monetary Fund, Portugal's cost of borrowing has reached unsustainable levels.
Addressing the nation last night Mr Sócrates, said: "I have always said that asking for aid would be the final way to go, but we have reached the moment."
It is understood that the rescue fund could be as high as £70 billion, or €80 billion.
Sources close to the Treasury said last night that Britain would take part in any Portugal–related discussions involving the EU's 27 member states. However, the type of bail–out is yet to be discussed and therefore the extent of the UK's exposure was impossible to gauge, the sources said. » | James Hall | Thursday, April 07, 2011
THE DAILY TELEGRAPH: Spain 'won't follow Portugal' with bail-out: Spain said it will not follow ailing neighbour Portugal in seeking a European bail-out. » | James Hall | Thursday, April 07, 2011
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