@techreport{Schrader2012Will,
abstract = {Current economic developments in Portugal do not portend well. The Portuguese GDP is shrinking and the growth forecast for 2012 is gloomy - in the EU only the forecast for Greece is even worse (Figure 1). Moreover, Portugal is now having to pay double-digit interest rates on its bonds, its debt ratio exceeds 100 p.c. of GDP, its unemploy-ment rate is knocking on 15 p.c., and its current account deficit continues to remain high. All of these things not only indicate that Portugal is in a serious economic crisis. They also conjure up parallels to Greece's economic plunge. Thus, it is not surprising that many expect that Portugal will turn into a second Greece. But is this expectation really well founded? We think the answer to this question is no. A careful analysis of the crisis in Portugal shows that it is different from the crisis in Greece. Portugal has a better chance of avoiding economic collapse than Greece.},
address = {Kiel},
author = {Klaus Schrader and Claus-Friedrich Laaser},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {330; Wirtschaftskrise; \"{O}ffentliche Schulden; Leistungsbilanz; Zahlungsbilanzungleichgewicht; Arbeitslosigkeit; Zins; Risikopr\"{a}mie; Portugal},
language = {eng},
number = {42},
publisher = {Kiel Institute for the World Economy (IfW)},
title = {Will Portugal turn into a second Greece?},
type = {Kiel policy brief / Institut f\"{u}r Weltwirtschaft an der Universit\"{a}t Kiel},
url = {http://hdl.handle.net/10419/56378},
year = {2012}
}
