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Portugal Warn Situation May Become Intolerable

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Portugal banks face 'intolerable' risk unless austerity measures are implemented
Portugal's central bank has given warning that the country's banking sector faces "intolerable" risk unless its government implements planned austerity measures, as continuing fears for the health of the eurozone dragged the euro to a 10-week low against the dollar.
Failure to consolidate the public finances will put the country's banks in danger, the Bank of Portugal said in a report, which followed Prime Minister Jose Socrates last week pushing through an austerity budget.
The Portuguese government says no bail-out is needed,
but markets are already pointing the finger at the country as the next to follow Greece and Ireland (Berlin: IIK.BE - news) in requesting a rescue package.

Looks like they are in the denial phase for a bit longer. Bit embarrassing to admit your country needs a bail out and hand over of sovereignty after centuries of pride and independence. At least they got a bit of HPI out of it for a few years what?

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Hang on, barel 24 hours ago they were saying all was fine in Portugal! :lol:

Did anyone see those portugese protesters on tv last week. Basically one was saying give us an EU bailout, that the EU has money and can afford it, so give them some money. You cannot argue with their logic.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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