Wednesday, October 27, 2010

The "P" in "PIIGS" is about to collapse

Portugal is on the brink.

As BBC reports, "the minority government of Portugal has failed to gain opposition support for its proposed austerity budget. A failure to pass the budget could plunge the country back into the debt crisis it had seemingly escaped since the summer." And this: "Prime Minister Jose Socrates threatened to quit if the budget fails, while the finance minister ruled out more talks." In other words, the Portuguese government is about to fall,...

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