As some of you know, Portugal has been on a road full of holes since 2010 officially, although for me and my family it started prior to the 2008
financial crisis, exactly after José Socrates was elected as prime minister (2006), my mother was fired and since then has been unable to find a
permanent place to work jumping between jobs but in the current days it's become impossible for a woman of her age to find a decent job, but in the
same situation as I and my family are now, are also 100's of thousands of other portuguese.
So basically, the causes for this Finacial Crisis were:
-Poorly though out investments
-Mismanagement of funds since the carnation revolution some 40 years ago
-Corruption and Fraud
-Portuguese Banks accumulated losses for years
In 2011 we declared bankrupcy and requested the help of the IMF, a bailout was issued and 3 years later, after loads of cuts and reforms we are now
reaching the post-troika.
Supposedly, we are doing well so far, we've seen some minor growth, and we're told we will see some more in the coming years, but we are also being
told we will only fully recover when we get to the 2030's, our debt is 130% of our GDP.
I'm left wondering, how are we supposed to pay this debt, and still grow? I'd like the opinion of all the ATSers that might be interested in this
subject, when it comes to economics or finances, I know nothing, but I'm really worried about my country, because what happens to my country affects
me and everyone that lives in it.
Can anyone predict how we're going to do in the future, have any of you studied this Crisis we're going through and can give a more detailed insight
Thank you and cheers