Messages in the Media - University of Toronto

efforts of the Portuguese government consolidating public
funds and initiating the necessary structural reforms. 11
Causes of the Eurozone crisis
Considering the magnitude of the Eurocrisis and Portugal’s
floundering economy, it is not surprising that the topic of
potential causes of the economic downturn were widely
discussed in Portugal’s domestic media.
- While some reporting focused on explaining the difficulties
and challenges facing EU leaders, 12 others indicated
the shortcomings of the EU resulted from a lack of leadership.
13 Certain reports called for the increased centralization
of the EU, in hopes that this would prevent a repeat
of Eurocrisis. 14
Portugal and the Future of the EU
Another widely discussed topic in Portuguese media addressed
the country’s disadvantaged economic status in the
EU. 15 16 17
- Although certain reports focused on distinguishing Portugal’s
economic situation from that of Greece and Ireland
18 a majority stressed the lack of foreign investment in
Portugal and its negative impact on the nation’s econo-
my.
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19 20
- In mid 2011, economist Nouriel Roubini stated that economic
recovery for Portugal would be a long and difficult
ordeal, however he expressed hope that an agreement
could be reached with the EU, the ECB and the IMF, that
would enact less severe austerity measures than those
imposed in Greece and Ireland. 21
- Nevertheless, most of the reporting on the topic of Portugal
and the future of the EU remained optimistic, indicating
that the EU would contain the crisis. 22
2011 IN REVIEW:
Over the course of 2011, Portugal’s relationship
with the EU has been significantly affected. Surprisingly,