Case | HBS Case Collection | January 2018 (Revised March 2018)

Portugal: Can Socialism Survive?

by Richard H.K. Vietor and Haviland Sheldahl-Thomason

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;

Language: English Format: Print 36 pages Educators

Citation:

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

Related Work

  2. Case | HBS Case Collection | January 2018 (Revised March 2018)

    Portugal: Can Socialism Survive?

    Richard H.K. Vietor and Haviland Sheldahl-Thomason

    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.)  View Details
    CiteView DetailsEducators Related

About the Author

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Richard H.K. Vietor
Baker Foundation Professor, Paul Whiton Cherington Professor of Business Administration, Emeritus
Business, Government and the International Economy

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