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TOPIC: EURO CRISIS ON: Portugal Crashes

EURO CRISIS ON: Portugal Crashes 03 Jul 2013 19:30 #1

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More financial bad news. There are reports of a run on the bank having taken place today.

MARKETS More: Portugal Euro Crisis
EURO CRISIS ON: Portugal Crashes After Finance Minister Resigns
JOE WEISENTHAL JUL. 3, 2013, 3:56 AM

And it's like the good old days in Europe today.
The Portuguese stock markets is crashing over 6%.

Interest rates on Portuguese bonds are spiking.

The cause? The Finance Minister has resigned in a dispute over austerity.

From WSJ:

Mr. Gaspar said in his resignation letter that he had first offered to step down last October amid evidence that public and political support for the country's austerity program was fading. Protests and strikes have become more common since then, and some lawmakers from the governing coalition have joined its critics in saying austerity is doing the country more harm than good.

"It is my conviction that my exit will contribute to reinforce your leadership and cohesion within the government," Mr. Gaspar wrote to Prime Minister Pedro Passos Coelho in the letter.

Europe is red across the board.

Germany is down 1.5%. Italy is off 1.8%. Spain is down 2.6%.

Read more: www.businessinsider.com/portuguese-marke...2013-7#ixzz2Y0afsyr3

*Edir* I'm not sure how accurate this is - I'm not finding a whole lot about it.
Warning: Spoiler! [ Click to expand ]
Last Edit: 03 Jul 2013 19:38 by Gilly.
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EURO CRISIS ON: Portugal Crashes 03 Jul 2013 19:39 #2

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Thanks, Gilly. I go out for a few drinks and a meal and when I come back Portugal has collapsed. I can't help feeling partly responsible.

Front page of the Daily Telegraph today:

www.telegraph.co.uk/news/politics/101561...-to-fix-economy.html
But despite all these efforts we have made over the last three years … our debt/GDP ratio is still rising, debt interest payments are rising.

“There is still an enormous amount of work to get that deficit down to a balanced level to get the debt/GDP level falling rather than rising.”
LOL, good luck, you're going to need it!
The true measure of a man is not his intelligence or how high he rises in this freak establishment. The true measure of a man is this: how quickly he can respond to the needs of others and how much of himself he can give - Philip K. Dick.
Last Edit: 03 Jul 2013 19:40 by wake_up_bomb.
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EURO CRISIS ON: Portugal Crashes 03 Jul 2013 23:21 #3

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It is accurate gilly, portugals 10yr bonds are above 8%
Game over.

You can see my prediction thread post on DIF and match it up again :p
“Fascists are not human. A snake is more human.” - Hugo Chávez
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EURO CRISIS ON: Portugal Crashes 03 Jul 2013 23:25 #4

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Next turn of the cog is on then. Happy days :facepalm:
"laws are unenforceable if the majority break them."-humanspirit,
"avoid the concept of an ambassador for truth altogether"-gilly.
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EURO CRISIS ON: Portugal Crashes 04 Jul 2013 08:44 #5

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Would it help if England bought Cristiano Ronaldo off them?

Should raise about 70mil to start with and he'd look pretty good in an England shirt.

Maybe countries in trouble could sell off their decent sportsmen/chicks.

It could be a new way of settling national debt.
Si me puede disparar los conejos, a continuación, puedo disparar fascistas
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