Editorial Ta Nea: Comparisons
It is no coincidence that Portugal borrows with much lower interest rates than Greece, as the yield on ten-year bonds demonstrates.
It is a comparison that is as simple as it is sad.
Certain political forces in Portugal’s ruling coalition and all opposition parties supported the demand of educators for a salary hike.
The country’s socialist prime minister refused on the grounds that it would jeopardise fiscal balances and Portugal’s credibility.
He went as far as to threaten to resign even though he plans to run for re-election in October.
In Greece, the PM and his government are opening a budget gap of billions of euros with measures they announced a few weeks before the election.
They are also outbidding the opposition in offers of benefits.
In this manner they are undermining the country’s fiscal balance and credibility in the eyes of partners and are condemning it to disrepute.
The government insists on carrying on with a strategy that proved counter-productive for it in both the European Parliament and local elections.
It is no coincidence that Portugal borrows with much lower interest rates than Greece, as the yield on ten-year bonds demonstrates.
That comparison leads to yet another. Society in one of the two countries is flowering and the other is becoming impoverished with handouts.
It is clear which is which.
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