# Prof. Luis Cabral on Portugal's bailout exit

1 Faculty News May 5, 2014 ![The New York Times Logo](/sites/default/files/styles/246w/public/assets/images/uat_027320.jpg?itok=W8xBr66g)>

Excerpt from [The New York Times](http://www.nytimes.com/2014/05/06/business/international/bailout-is-over-for-portugal-but-side-effects-will-linger.html?emc=eta1&_r=0) -- "'My estimate is that we are considerably better off than we would have been had the program not been implemented,' said [Luís Cabral](http://www.stern.nyu.edu/faculty/bio/luis-cabral), a Portuguese economist and professor at New York University. 'The death spiral that was predicted for the Portuguese economy failed to materialize.'"

[Read more](http://www.nytimes.com/2014/05/06/business/international/bailout-is-over-for-portugal-but-side-effects-will-linger.html?emc=eta1&_r=0)