Greek tragedy

Portugal has one of the worst economical economies in Europe, almostidentical to the Greek tragedy, all indications point to a continuing Of the dilemma as the country faces severe measures almost on a daily basis, as is the case with the petrol price paid by the motorist at the petrol filling stations across the country. Today the petrol company’s Galp, BP, Repsol and Cepsa increased final consumer price by a staggering two cents per litre.

A litre of Regular 95Octane is now 1.401 euro per litre, one of the most expensive in the world. This attitude is possible since the involved companies have the approval of the now useless socialist government to increase the final consumer price as they so desire. Europe Asia and the US have not left the recession zone, in fact some Nations are worse now than two years ago, we have the example of Greece, Ireland, Spain and Portugal that have serious budget problems, the increase in petrol prices will further reduce demand and public spending by more than 7% this year alone, this will be aggravated next year by a 2% increase in Tax to a record breaking 23%, this ridiculous measure taken by the useless Prime minister Socrates will have serious inverse economical effects on the economy and population whose unemployment rate is now over 10.5%.

Filling a normal 50 litre petrol tank the motorist must pay 6 € more than in January this year for the same amount.

Oil prices rose to near $83 a barrel Monday due to the stonger dollar and speculation that the U.S. central bank will soon move to bolstera spluttering economic recovery.