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Publications
  • January 2018 (Revised March 2018)
  • Case
  • HBS Case Collection

Portugal: Can Socialism Survive?

By: Richard H.K. Vietor and Haviland Sheldahl-Thomason
  • Format:Print
  • | Language:English
  • | Pages:36
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Abstract

Portugal was not ready to join the European Monetary Union in 1999. With strong unions, weak competitiveness, and a legacy of socialism, it could not compete with north-European countries. After borrowing extensively to fund deficits, Portugal went into debt crisis in 2011 and had to borrow from the Troika. As banks failed, structural adjustment followed. Today several structural issues and the threat of external risks continue to cast a shadow on its otherwise remarkable recovery.

Keywords

Economy; Financial Crisis; Economic Systems; Portugal

Citation

Vietor, Richard H.K., and Haviland Sheldahl-Thomason. "Portugal: Can Socialism Survive?" Harvard Business School Case 718-024, January 2018. (Revised March 2018.)

About The Author

Richard H.K. Vietor

Business, Government and the International Economy
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