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Photo Gallery: Portugal's Possibilities

Foto: PATRICIA DE MELO MOREIRA/ AFP

Not the Next Greece Portugal Can Still Turn the Corner in Debt Crisis

Pimco CEO Mohamed El-Erian has warned that debt-ridden Portugal will become a second Greece and may also need a private-sector haircut. But he is exaggerating: Lisbon is forging ahead with its reform efforts, and the country has every chance of getting its finances under control.
Translated from the German by Ella Ornstein