This is likely one of the reasons the sector was left out of the Paris text.
Privatisation has been promoted globally for cities, but evidence shows that it often fails and the public sector is left to address the problems.
When the private sector is left to make its own arrangements, neo-liberals never tire of pointing out, it functions better, to the advantage of all.
Even before this year's splurge, Portugal already had a near-Nordic ratio of public spending to GDP per head, without a GDP to match (see chart 4 .In effect, with the public sector absorbing half of GDP, the Portuguese private sector is left with a lower proportion of national resources than its counterparts in most other European countries.
The other thing that happens when the working philosophy of the country's leaders is that private is always better is that the public sector is left to erode and atrophy -- in-house equipment falls out of date, the best people leave, the skills are no longer there.
This means that screens (if there are any at all) in these sectors are left with lackluster content and the same age-old videos playing on loops — far from engaging, exciting or providing benefit to anyone.
By day's end, the banking sector was left gasping for air: Goldman dropped nearly 13 percent; Morgan Stanley, 5.6 percent; Bank of America, 5.5 percent; Citigroup, 5.2 percent.
Consequently, the public sector was left with the most complicated cases, tending to overwhelm it with patients with advanced disease.
Therefore, a comprehensive comparison of these systems that considers the specifics of the countries and business sectors is left open for further academic research.
The question then becomes how far the ECB is willing to go here; is it willing, in effect, to lend enough money to buy up the entire balance sheet of the Greek banking sector, given the likelihood that this sector will be left insolvent by Greek default?
