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Europe gives Portugal ‘time to adjust’ and lets fiscal targets slip

It is not at all clear where things in Portugal are headed. The economy is in a deep depression. Yet, sovereign bond yields have come down considerably. The Troika is even relaxing Portugal’s austerity target, hoping this will drive yields down further. Will the strategy work though?

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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.