Issue No. 4 of Year III of the Journal of Public Finance and Tax Law

“Portugal now faces an extremely difficult situation, best shown by its growing difficulty in obtaining financing and in the increased costs of the financing it indeed manages to obtain. The space in which it can operate has been reduced drastically, accompanied by the 2011 State Budget and the various austerity measures which have been imposed.

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Are we thinking enough about these issues? Have we taken the effects of taxation on motivation to work and invest sufficiently into account?  Have we recognised the suffering which may lead to a major change in the Welfare State? Have we evaluated the risks that the decline in solidarity may cause in terms of social cohesion? Have we reflected on the violence starting to blight the streets of Europe?

And, yet, it is necessary to do this.

Here in this Journal, we will carry out this task

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Allow me to highlight the publication that is thought to be the last written by Professor Rogério Fernandes Ferreira, produced in collaboration with Dr. José Vieira dos Reis. We are deeply grateful to his children for having made this article available to the Journal, which has been so honoured to have had the distinguished Professor as a contributor to it”

Editorial