Legal Business

Outward Bound – Portugal lawyers turn to global opportunities

Portugal continues to navigate a deep recession, aided by its legal profession. But while the sale of state assets is providing some relief, firms are looking to their international practices to provide a bailout of their own.

The normally sedate setting of the Ritz Hotel in Lisbon became the focal point of Portugal’s malaise in April. A flash mob of angry protestors gathered outside the hotel urging the Portuguese government to `screw the troika’ in response to the severe austerity plans tabled to meet the demands of Portugal’s 2011 €78bn bailout by the International Monetary Fund, European Central Bank and the European Commission.