A manifesto calling for the restructuring of Portugal’s debt has been supported by over 70 economists from all across the world.
The document, known as ‘Manifesto dos 70’, had already been signed by 74 of Portugal’s leading thinkers before receiving the support of the international community.
According to Público newspaper, the international economists who back the manifesto hold high-profile positions. Some of them are said to work at the International Monetary Fund (IMF) and numerous prestigious economics publications, but the newspaper singled out Mark Blyth as one of the most esteemed – a professor at Brown University in the US who wrote ‘Austerity’, considered the best book of 2013 by the Financial Times.
Público reports that the international economists share the opinion that the only way Portugal will ever escape from its impending economic doom is if the country restructures its public debt, involving a combination of longer maturities and lower interest rates.
The newspaper also claims that the economists have put pen to paper to sign a document in which they subscribe to the words included in the original manifesto.
