Portuguese Coalition Works to Survive - WSJ.com

Portuguese Coalition Works to Survive - WSJ.com
comment by another (BK)
"Printing money would be essentially a wealth transfer from the prosperous and thrifty North to the South... if wealth and industriousness was concentrated in one region and poverty and laziness in another."

response:

One might replace indolent with "indolent government workers" and no real interest in changing policies that protect those in government from the rigorous travails of the private markets.

A Portuguese friend told me the other day that the problem in Portugal is that the current constitution was written by communists after the fall of Salazar. Thus, little can be done unless it is changed.

Again, for indolent, think of the private sector as having to carry the huge burden of the government sector, employees, regulations and taxes on its back. With a heavy weight to carry, even the strongest person or country might appear lazy and slow.

However, if you are a member of that part of society being carried, why should you want to be let down? So, that is part of the real dilemma. A constitution designed to serve and protect the needs of those in government and working for government and government-owned entities.

And, as Portuguese policies (and those in Greece) have shown, as the private sector continues to labor under the weight of government, it loses the energy needed to rebound - let alone the fact that government has raised taxes and done little or nothing to remove regulatory burdens.