With an unemployment rate hovering around 15% and with an ever-growing debt-to-GDP ratio, Portugal is in dire need of financial assistance to resuscitate its economy. Could tourism be the silver bullet?
Those seem like sound ideas to me, but they might be beyond the reach of the various governments in those countries where, much to the chagrin of the European Central Bank, citizens do still have the right to vote.
As the euro zone crisis intensifies and global markets reflect investor concerns, we ask ourselves, is a Greek exit from the euro on its way? Preparations have already begun to protect shareholder interest.
According to René Girard, in periods of collective crisis the phenomenon of scapegoating flourishes. Today, the notorious "PIGS" (Portugal, Ireland or Italy, Greece, Spain), have become those animalized, "criminal" scapegoats.