The Economists have been gleefully predicting that Portugal will be the next major economy to collapse under its own debt, following on the heels of Greece and Ireland.
However, I think I may have found a solution which will prevent the Portuguese Economy from imploding.
It’s a simple economic solution – diversification.
The Portuguese need to get away from what appears to be their major trade
Everywhere I looked today there were shoe shops. In some areas there where nothing but shoe shops, and at the current rate I think almost half of all the shops I’ve seen were selling shoes.
So perhaps the Portuguese economy can be saved, just at the expense of some loafers and a pair of brogues.