In this world, they say, you don’t get something for nothing. So when Portugal was given its bailout by the Troika, there were bound to be a long list of repercussions. While crippling austerity measures were expected, there are some lesser-known provisions whose potential impact is just surfacing.
Desperate times call for desperate measures – or so we are led to believe. In the short-term, tactical solutions may seem attractive. But in the long-term, they can harm not only law firms that are using them but also the overall market for legal services.
Motivation has always been a key challenge for law firms. But the economic environment is affecting everyone: from the most junior lawyer wondering what their future holds - if anything - to the most senior who has no fight left in them.The issue of ‘Who?’ and ‘How?’ to tackle the issue cannot be ignored. And experts suggest that, even if it were available, throwing money at the problem won’t work anymore.
The economic crisis is fast becoming business as usual, and domestic law firms urgently need to take action if they are to exist in a post-crisis landscape. They need to make tough decisions, say lawyers, and, most importantly, they need to be doing it now.