O belo exemplo de Portugal aplicado à discussão orçamental nos EUA., no blog Americam Politics, da The Economist.
LAST month Portugal's parliament voted against a package of austerity measures that would have been necessary to avoid a European Union bail-out. Immediately, the country's costs of borrowing went through the roof. Last Wednesday, Portugal auctioned €1 billion of 12-month bonds at a yield of 5.902%; at the previous auction of €1 billion on March 16th, the yield was 4.331%. Now Portugal will end up having to adopt basically the same package of austerity measures, or something worse, as a condition to receive the European Union bail-out. So their parliament's rejection of the austerity measures cost Portuguese taxpayers €15.71m on that bond issue alone, in return for which they got exactly nothing.
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