Tuesday, Apr 27, 2010
Next comes Portugal, then .....
Bloomberg: Portugal Suffering Greek Contagion Pressures EU Bonds
"With a higher debt burden and a slower 10-year growth rate than Greece, Western Europe’s poorest country is being punished by investors as the sovereign debt crisis spreads. The risk premium on Portuguese bonds rose to more than double the past year’s average this month. Portugal plans to raise as much as 25 billion euros this year, equivalent to 15 percent of GDP. That compares with 21 billion euros last year, according to the national debt agency". "The country’s 236 percent debt burden last year compares with 205 percent in Italy"
Posted by alan @ 10:50 PM (988 views) Add Comment
8 Comments
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1. titaniccaptain said...
All HPCers....I have a confession to make........
I Lied through embarrassment....
Avatar was not the reason I made the prediction of the 26th......
I just felt embarrassed that the 26th didn't turn into the big event.
I was one day out........
The reason that I was a day out was because Avatar came out on Blu ray and it fudged my mental prediction lol
So I was one day out.......COME ON S2R1.......not a bad prediction for Gold!!!!!!!!
You have to admit it......the most accurate prediction so far for a major event on gold?
Now then you must ask who is my source?.....lol
2. titaniccaptain said...
Whilst I am on a roll and the Mexican beer is flowing through my veins to give me Dutch courage I will give my next 'Significant date'......
June 14th..............................
Mwahhhaaaa ahahahahhahaha.
Next time give me 24 hours either side lol.........right I'm off to celebrate with a beautiful lass from Windermere that I am luck to call my wife...
3. quiet guy said...
There is only one TitanicCaptain :)
Do you have any idea how much time I wasted on Wikipedia, querying the date 26th April ???
PWND by TC!!
4. titaniccaptain said...
3 dates for October as well Quiet Guy.......
the 18th, 26th and 28th...........................
please make a note I will forget by tomorrow.
5. titaniccaptain said...
I love being mad!
6. gone-to-colombia said...
Ummmmmmmm.. I predict the end of the Euro.
7. uncle tom said...
First Greece, then Portugal then what..?
Ireland looks vulnerable, as its recovery plan is dependant on cheap credit; but its ability to slash public expenditure without provoking riots counts heavily in its favour. Spain also has a government that is willing to grab the nettle, and, perhaps surprisingly, has so far avoided major civil upset.
But what of Italy? A very heavy public debt, unhealthy deficit; and most importantly, an aging and shrinking population. Add to that a fairly hapless government..
Italy will be very badly affected if it has to pay more interest on its debts, and probably lacks the political will to push through major expenditure cuts..
..Italy's debts are large - there will be a very big splash if that country goes down...
8. p. doff said...
7. uncle tom said...Ireland looks vulnerable, as its recovery plan is dependant on cheap credit; but its ability to slash public expenditure without provoking riots counts heavily in its favour.
Ireland has always worried me. The 'troubles' have certainly been supressed while everybody was busy making money out of an EEC funded boom, and politicians were happy to claim the credit for peace. The divisions are deep set however and now that the economy is proving to be bogus are we seeing some rumblings of discontent from the 'troublemakers'?