The Portuguese Miracle: Young Entrepreneurs Lead Country Out of Crisis

"Some 485,000 Portuguese, particularly young university graduates, left the country during the crisis to try and find opportunities abroad. [...] Around 60 percent quickly returned."

The emigration numbers are real (actually, they're conservative), but them returning is patently false.

The portuguese are notorious for making the best out of the worst, and Portugal is still an european country abeit the crisis. But there's a government election tomorrow. Speaking of economic "miracles" which the average joe has trouble seeing, reeks of "troika policies worked" propaganda.

There has been a minor uptick in foreign investment, but you have to squint really hard to see it:

https://en.santandertrade.com/establish-overseas/portugal/fo...

And FDI stock is down.

The Portuguese are resourceful and they are trying to make the best out of a bad situation. Nevertheless, nothing in the data justifies the title "The Portuguese Miracle: Young Entrepreneurs Lead Country Out of Crisis". This is just more of the same German propaganda that's been trying to justify austerity for the last 6 years. The phrase "One size fits one" applies to monetary policy in Europe: monetary policy has been adapted to German needs, at the cost of great pain for the rest of Europe.