We all knew it was likely to come. Can only help 'the cause' I suppose. http://www.bbc.co.uk/news/business-12993318
tell me you did not think that wasn't going to happen? Firstly they say "oh no way, under no circumstance will we take money" Followed by a couple of weeks " it's under consideration but no we will not accept their terms" as if they have any choice Followed by a couple of weeks " let the nations papers sell the story to the people that they are a proud nation and will under no circumstance accept a bail out" Followed by a couple of weeks " perhaps we'll think about it" Followed by " yes it's a good idea but I have to talk to parliament about it" Followed by " Oh, we are considering it but we won't but we may" Followed by " oh, you might as well draw up the paperwork and we'll consider it" Followed by " the government saying, we have no choice but we don't want it" Followed by " let's do it, blaming other countries such as Greece and Ireland did so why don't we" Eventually " ok, it's a deal we accept" It's the same old same old story preventing a panick but eventually the citizens of Portugal well realize they are F$%ked! like many more countries which will follow this same path in a few months time ie: Italy first then a major rush on Spain.
At what point to they realise 'yes we need a bail out' Is is when their bonds mature and they are due to pay them back but have no way to do so?
They will topple like a house of cards. Italy has a higher debt:GDP ratio then Portugal. The PM market is very bullish.
Any possibility once the IMF gets its hands on Portugal they will be forced to liquidate their substantial gold reserves?
They said bailing out Greece would stop the spread of contagion to the other PIIGS. They said bailing out Ireland would stop the contagion spreading further. Now they're saying that bailing out Portugal will stop the contagion spreading to Spain. and Burlesconi is still in power in Italy... Doctor, I don't think the quarrantine is working...
