Portugal disabled by euro straitjacket
Letter to the editor

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From Mr Desmond Lachman.

Sir, Your editorial ("Portugal's crisis of politics and growth", July 4), which exhorts Portugal and its creditors to emphasise economic growth policies, fails to address the most basic of questions. Can Portugal engineer a meaningful economic recovery while pursuing budget austerity and economic reform within a euro straitjacket that precludes currency devaluation as a means to promote export growth?

 

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Lachman

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