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Portugal needs helpThe administrative arm of the European Economic Community has produced its written opinion on the request of Portugal for Community membership, A bleakdocument it is.Realistically, the opinion describes the severe economic effects that would follow Portugal’s admission in its current unprepared state. Tough competition from established, efficient industries inside the EEC would force some Portuguese industries in identical fields to the wall. Regional disparities within Portugal would be accentuated and exaggerated. General economic hardship for many Portuguese could be the result, at least in theshort to middle term.Politically, the opinion emphasizes, Portugal cannot be left outside the European integration process if its hard-won democracy is not to be placed under gravestrain.What does the opinion advance as a way out? The sensible suggestion is that Portugal must immediately and urgently undertake profound social and economic reforms, and must make, as its priority, the progressive reduction of the country's balance-of-payments deficit.Doing both things together will require strong support from the European Economic Community, both financial and technical. The Community’s commission, or administration, will start the process by assisting Portugal in drafting its next five-year economic plan. Political leaders of the Community will have to apply pressure within the International Monetary Fund to make it easier for Portugal to obtain new credits and easier terms on loans.as they become necessary.These suggestions are helpful. They provide a framework for developing an international strategy for helping Portugal that goes beyond the recent IMF loan, with its concomitant requirements for domestic austerity measures. Signor Lorenzo Natali, the commissioner responsible for Community enlargement proposals, was right when he said: “Industrial expansion runs the risk of being held back if austerity measures have to be applied for toolong a period.” .This useful report should be studied by those politicians and civil servants in Ottawa who arc responsible for Canada's current niggardly policy towards helping Portugal.
Newspaper Details
Winnipeg Free Press
Winnipeg, Manitoba, CA
Mon, May 29, 1978
Page 1
Full Page
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USA 20 Jul 2020
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