Does Portugal really need a bailout?

December 3, 2010

Produced by Worldview

Download Story
(Michael Reynolds-Pool/Getty Images)
Prime Minister Jose Socrates says Portugal does not need a bailout.

Now that Ireland’s agreed to a bailout, analysts worry that Portugal may be next. Notre Dame professor Robert Fishman is a co-editor of the book, “The Year of the Euro.” He argues that fears about the Iberian nation's economy are overblown.

He says Portugal went from a being a dictatorship and European backwater in the 1960s to a modern country by the end of the century. The transformation is especially surprising, since it also had to deal with the collapse of its empire in 1974.