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ON March 24 the Portuguese prime minister, Jose Socrates, resigned after all the opposition parties rejected his austerity plan, which included slashing pensions by more than €1,500 a month and more cuts in tax benefits. His government´s collapse triggered an election, which could not take place for another two months. During the interim Socrates stayed on as acting prime minister and reached an agreement with the European Union and the International Monetary Fund for a €78bn bailout. The terms? Almost exactly the same as those proposed by him and rejected by the Portuguese parliament six weeks earlier. When the elections finally took place the political class could sense a certain degree of cynicism. The Portuguese president, Anibal Cavaco Silva, warned voters they could not complain about what...
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WATCHING the evolution of economic discussion in Washington over the past couple of years has been a disheartening experience. Month by month, the discourse has gotten more primitive; with stunning speed, the lessons of the 2008 financial crisis have been forgotten, and the very ideas that got us into the crisis - regulation is always bad, what´s good for the bankers is good for America, tax cuts are the universal elixir - have regained their hold. And now trickle-down economics - specifically, the idea that anything that increases corporate profits is good for the economy - is making a comeback. On the face of it, this seems bizarre. Over the past two years profits have soared while employment has remained disastrously high. Why should anyone believe that handing even more money to corporations, no strings...
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Nation Business Sports Chill Out
Chile edges out Mexico, Peru holds Uruguay

AFP

BUENOS AIRES AFTER Brazil and Argentina had served up dull fare in their opening matches, the Copa America finally caught fire on Monday as Chile came from behind to edge Mexico and take command of Group C, where fancied Uruguay were held by Peru.

Four draws in five matches, an average of barely a goal per game and sub-zero temperatures had left fans less than impressed and questioning if they would see anything approaching samba-style football from anybody over the coming month, Brazil included.

Chile answered the question emphatically enough - though Arturo Vidal’s winner against the Mexicans, a towering header from a corner, had a rather Anglo-Saxon, rather than latino, hallmark to it.

That did not worry the Roja, who had been staring an embarrassing defeat in the face at half-time after Nestor Araujo put a youthful Mexican side into a 40thminute lead.

The Mexicans elected to rest most of their senior squad having just lifted the CONCACAF Gold Cup to give their youngsters some tournament experience.

But “El Tri”, regular special guests at the South American event, eventually gave up the ghost after Esteban Paredes cancelled out Araujo’s effort at the Del Bicentenario stadium in San Juan before a 25,000 crowd.

Vidal then bulletted home a header from Matias Fernandez’s corner to cheer the large travelling Chilean contingent as they moved to within sight of a place in the quarter-finals.

“The opening match is always a real humdinger so it’s great to get off to a winning start,” said Vidal.

Alexis Sanchez, who is expected to be one of the stars of the tournament, said Chile had not lost heart after going behind and were rewarded for their tenacity.

“We kept calm and as a result the goals eventually came to enable us to turn things around,” he said.

Mexico assistant coach Luis Fernando Tena suggested the Chileans, who came here on the back of five unbeaten friendlies, could potentially go one better than four previous final defeats.“They have great players, they are a solid and strong team.

They know each other well and this team can go a long way at the Copa.

I think this is the best team I have seen at the tournament,” he said.

World Cup semi-finalists Uruguay earlier found Peru a tough proposition and it was left to Liverpool’s Luis Suarez to rescue a 1-1 draw after Paolo Guerrero opened the scoring midway through the opening period.

Uruguay coach Oscar Tabarez, up against compatriot Sergio Markarian, had hoped for far more but conceded simply that “today we couldn’t achieve what we wanted.” Markarian, in his first tournament as Peru coach, was happy with the result and performance.“ It’s a good result - it was important to get off the mark,” he told journalists.

While Chile celebrated their win, Argentina and Brazil were left to plot improvements after failing to see off Bolivia and Venezuela


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