Portugal: Wenn Fiktion Wirklichkeit wird

The author describes the devastating impact of austerity measures imposed on Portugal via a Memorandum of Understanding, noting that these policies have led to record unemployment, mass emigration, and increased poverty. The text highlights the failure of the 'Troika's' economic forecasts and calls for the Portuguese state to lead a debt renegotiation, similar to the 1953 London Agreement, to prioritize human rights and the welfare state over financial market interests.

• The austerity strategy imposed on Portugal has failed, resulting in an 'austerity dictatorship' where public debt increased despite spending cuts, leading to a recessionary spiral and the exploitation of natural resources.
• Economic forecasts by the Troika were consistently incorrect, requiring six revisions in less than two years regarding GDP, unemployment, and deficits. In the first quarter of 2013, the GDP fell by 4%, contradicting a predicted increase of 1.2% for the year.
• The social consequences of these policies include record unemployment affecting over one million people, with approximately 2.5 million people (one quarter of the population) living in poverty. This has triggered a mass exodus of around 360,000 people over three years, primarily qualified youth.
• The 'Citizen´s Audit of Public Debt', alongside unions and civil society, advocates for a state-led renegotiation of debt, citing the 1953 London Agreement as a historical precedent for debt relief and revised payment terms.

APA

Castro, I. (2013). Portugal: Wenn Fiktion Wirklichkeit wird. Green European Journal. https://www.greeneuropeanjournal.eu/portugal-wenn-fiktion-wirklichkeit-wird/

Chicago

Castro, Isabel. Portugal: Wenn Fiktion Wirklichkeit wird. Green European Journal, 2013. https://www.greeneuropeanjournal.eu/portugal-wenn-fiktion-wirklichkeit-wird/.

Wikipedia

{{cite press release |last1=Castro |first1=Isabel |title=Portugal: Wenn Fiktion Wirklichkeit wird |publisher=Green European Journal |date=7 June 2013 |url=https://www.greeneuropeanjournal.eu/portugal-wenn-fiktion-wirklichkeit-wird/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{castro2013portugal, author = {Castro, Isabel}, title = {{Portugal: Wenn Fiktion Wirklichkeit wird}}, publisher = {Green European Journal}, year = {2013}, month = jun, url = {https://www.greeneuropeanjournal.eu/portugal-wenn-fiktion-wirklichkeit-wird/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }