globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Monday, February 10, 2014 12:20 PM
With value added tax on services exceeding 20%, much of Portugal’s economy is cash-based with no receipts.
Instead of admitting the VAT tax of 23% on services and restaurants is so high that it encourages fraud, Portugal Tries its Luck with Tax [...]
globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Monday, February 03, 2014 9:22 PM
Is Portugal about ready to implode?
That’s what one hedge fund manager believes. For now, interest rate action suggests otherwise.
We will explore the case for implosion but first consider this chart of 10-year sovereign bonds. Portugal 10-Year Sovereign Debt Yield