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While Mr. Bernardino's prescription would be fine for Portugal, they just show how he still hasn't understood the situation when they come from elsewhere. The second pillar he is talking about exists in a very limited number of member countries and Portugal isn't one of them. It is not weak, it is cumbersome. The third pillar doesn't do it better, it does it worse and far more expensive. The second pillar even does quite a few things the market cannot achieve. As long as Mr. Bernardino is unable to think beyond Portugal's borders he will be either ineffective or disastrous.