Former Colonial Power Decries Colonialism Of EU, IMF


Portugal has a long and sordid history of imposing its will on others, so it knows colonialism when it sees it. And all of the strings attached to all of that German money that kept its economy from full-scale collapse? Indubitably imperialistic.

If Portugal passes its creditors' current review of its bailout it could consider a precautionary loan programme to replace the current one, Deputy Prime Minister Paulo Portas said on Monday….

He said Lisbon wants to "end the period of being a protectorate" and would seek to avoid following Greece into a second bailout, but could follow Ireland in negotiating a precautionary lending programme.

"There's no possible comparison between the two things," he said. "Portugal would be able to finance itself autonomously as well as benefit from a precautionary programme, which is not a second bailout…."

The head of euro zone finance ministers, Jeroen Dijsselbloem, said on Friday Portugal should stick to deficit reduction goals already agreed. Portugal's goals have already been eased twice since the bailout began.

Portugal wants to end 'protectorate', could seek new loan-Portas [Reuters]