As Portugal considers the implications of its recent €78bn bailout, LB assesses the impact it will have on the legal market and how Portuguese law firms can survive in an economy stuck in limbo
By the time that this issue of Legal Business hits desks, Portugal will be on the brink of electing its new government. What form that government takes remains to be seen, although a majority coalition involving one of the two largest parties (the Socialist Party and the Social Democratic Party) looks almost certain.Regardless of the outcome of the 5 June elections, however, the European Union and the International Monetary Fund (IMF) will, in reality, guide domestic and economic policy in Portugal for the next few years. It is they, after all, who will be providing the €78bn bailout package, with plenty of strings attached.
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