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Reuters Breakingviews: Portugal should share EZ pain

Monday, Apr 08, 2013 - 04:36

April 8 - While Portugal’s constitutional court is right on a micro level to rule austerity measures unlawful, Portugal and the rest of Europe should share the pain of tackling stagnation, says Reuters Breakingviews.

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So -- Portugal should be revising its constitution rather than its austerity measures and marry a drag these enviable position. And head of the European Central Bank sounds interest in itself find out what that's about Robert Cole joins me let's keep it off reports we'll get a quick word imports go -- You'll correspondent your -- missing Campbell. Pretty critical. Of -- -- the route they decided to. This is what those -- -- beat constitutional -- -- -- housing and pulled hello are absolutely right absolutely wrong run the same time. -- how well they. Without a Portuguese legal experts let's see that that right in terms of -- -- that little to suggest that these austerity measures off. I'm -- institutional illegal what I thought I'm Sheila but that's absolutely right. But of course you know everyone's gonna -- X in in this or read establishing involve national finances particularly. And left the tightening in those peripheral countries which then. Particulates especially all over the place France UK Germany we all have to get involved. And do have to take up offense Serra of the -- in what seems to be there is that while calls to -- might be right. In me. It in in the micron is wrong in the -- crime. And certain things have to. Things today. Not -- Portugal. Across applies to salute -- ensure that we do. If you like shed a Cologne Bowden rob -- that well we go look -- -- this means that we can protect ourselves so that's good film pulls well. I'm angels -- a threat to add you know it it is inevitable that this and so funds will be found Sunday. -- the austerity will go lawn and the -- will be satisfied so I don't think we should be saying this is united. Some sort of crisis stifle for the for the opinion on the -- in a -- -- -- up it's a manageable. Difficulty but it does go straight to that point. Which is that we will have to set it apart and if it's quite nicely into this guy ever have asked. Some the ECB's. -- you're saying that increasing economic growth and decreasing. Unemployment. Is. A tougher job than keeping the Euro together and avoiding panic in euros and has no well. You know Hamas you have that sort of thing when we're deciding you know -- you -- of no real excitement he and Mervyn king's jobs. Never know we're we're not really site that -- doing what to do and I'm not consumers like -- drop it while we offside on a feasible at this. Cut it clear is that it ECB hasn't involved she and I -- -- -- toughest job in the world. And as you side -- keeping the the only eurozone together and keeping the banking finances of the European Union. Operational. Is a very very difficult -- But how does one involved should the ECB because it doesn't have these. Public and political expectation. On it which is that he's got a kick start European -- Yes he's got fantastic difficulties on the big are they less than not on -- But the ECB doesn't have that burden of responsibility. About his install stopped cold frost. To that the case. Governed by the -- -- Ben Bernanke and as we saw last week Kuroda. These gentlemen are expected somehow -- kicks off European growth sorry you kick start global over a bit. Through that run through their in through their -- countries and that is just. On reasonably unrealistic in these. Central bankers do a lot of power. But at the hands of some very importantly for us. But it's just not in that power not in their ability. To be able to kick start European but I thought it was -- pool a great deal of help equip pre. Here it is not expected them to do these just wishful thinking -- it's interesting read Federer how does this piece on the bring these web -- I think what Robert. I've Lamar agenda agenda setting insights what's the US shown trough -- -- and every day that's seventy petty BST. -- problems.

Reuters Breakingviews: Portugal should share EZ pain

Monday, Apr 08, 2013 - 04:36

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