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That would be great on a lot of levels, but I suspect they're afraid of loosing the benefits a "poor country" gets from EU... you know, the usual fiat mentality of getting free shit without working for it.
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No doubt. I don't seriously think it would happen, and the entire EU would unite to prevent it even if the citizens of Madeira wanted it.
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This is horrifying. Madeira should look to secede and declare its independence.