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Yes, but then you can compare Greece and Portugal, both joined the Euro in about 2000, both have now a financial crisis and both have rather small businesses. B
by yk 14y ago
Yes, but then you can compare Greece and Portugal, both joined the Euro in about 2000, both have now a financial crisis and both have rather small businesses. But Greece did quite a bit better between 2002 - 2007 than Portugal, suggesting that size of business is not a very good indicator for overall economic health.
- danmaz74 14y agoAgreed, it isn't a perfect predictor, but it is an interesting one.
- tluyben2 14y agoHow is Portugal doing now? I live in Spain for part of the year but I have an office in Portugal and my feeling is that they are listening to the demands from EU a lot more than Spain. Taxes rose all over and they cut spending across the board. In Spain nothing much changed (don't know about Greece?). Before this year, the news would say Greece falls, then Portugal; now they say Greece then Spain. Did it change? I cannot find news about it and I got tired of reading The Economist (you get tired of this OMG Euro OMG stuff when you live here...).
- antman 14y agoDon't trust the economic press for future predictions. Most of the time they don't have access for information. Only if they do a post mortem when they have documents they might read them. If they don't have the facts giving something plausible to their readers is good enough.