Why not try it? Well …
A depressing and familiar plot is developing in Portugal. Having adopted a full package of austerity measures two years ago, the country finds its budget deficit has not closed according to the intended timetable and actually widened last year to 6.4% of GDP. Nor has growth returned. Instead, the economy is expected to contract by a further 2.3% this year and the rate of unemployment stands at almost 18%.
… because it doesn’t work, that’s why. Unless you like to watch your country collapse into a perpetual economic crisis, that is. Then it does just fine.
