Essay on Portugal: Inflation and Portugal

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Milad Malakooti
Economy
Mr. Presburger

Portugal
One of the most important issues in Portugal is “Job.”
Having a job brings many important benefits, including: providing a source of income, improving social inclusion, fulfilling one’s own aspirations, building self-esteem and developing skills and competencies. In Portugal, around 62% of the working-age population aged 15 to 64 has a paid job. This 21 percentage point difference is lower than the OECD average of 33 percentage points and suggests the job market in Portugal is relatively inclusive.
So if someone doesn't have job that means that he can’t prepare the life’s essentials such as home, Car, equipment, etc.
Government of any country should solve the economic issues which effects on people’s life.
They are responsible of that.
There are some solutions for that. one of most effective is Trading.
If Portugal increase the amount of trade so it helps to improve Portugal economy so with that some jobs created and the economy status improves.

Problem of Government Debt
Debt Consolidation. Greece is bankrupt. They will need a partial debt default. The EU shouldn’t try to prop up Greece when there is no chance of repayment. They should allow Greece to default, and then they should concentrate on strengthening position of countries like Italy which should be able to repay debt, but may face liquidity constraints (temporary shortage of money due to market fears)
Growth. the EU and ECB have to see the importance of economic growth. At the moment, the only policy recommendations seem to be spending cuts and austerity, but this is pushing countries into a negative spiral of lower growth, higher unemployment and lower tax revenues.
ECB should pursue monetary easing. Target a higher inflation rate, pursue quantitative easing.
Give peripheral countries some monetary stimulus in face of all the deflationary pressures they

face. The ECB have the wrong attitude to inflation. e.g. faced with prospect of double dip recession, they increased interest rates because inflation was temporarily above target.
Supply side policies to improve competitiveness and efficiency. Important for economies like
Portugal and Greece.

After a debate on Europe
I took part in a debate on Europe with a Danish, a German and a Spaniard. The moderator was
Portuguese (I am Italian). We agreed that many socio-economic issues can only be solved
(internalized) at the European level. I wish to present support for an (obvious) point I made during the debate: the existence of necessary common European policies must not weaken the fact that member states have to design policies and structural changes that address specific national issues. The lower Italian participation reflects the larger shadow economy but not only: women and young participation rates are very low relative to European standards. Certainly this is an
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