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Portugal Faces Major Downgrade This Morning

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9:05, Tuesday 21 December 2010
) - Moody's Investor Service warned on Tuesday it may downgrade Portugal's A1 rating by one or two notches after a review, citing weak growth prospects and high borrowing costs.
Lisbon has moved into the eye of the storm in Europe (news) 's debt crisis, with markets worried it will be next to take a bailout after Ireland (Berlin: IIK.BE - news) and Greece. The Moody's announcement
knocked the euro back a touch

These days such news would move the Euro up, and significantly.

Will they be gone before Crimbo? Ireland was quick in having the bailout out boys invited in before things got REALLY out of hand.

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9:41, Tuesday 21 December 2010
) - The European
Union stands ready to do more
if needed to ensure the stability of the euro zone area, the president of the European Council, Herman Van Rompuy, said during a visit to Budapest on Tuesday.

Ah, they are ready to "do more." Crisis over then.

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"Shaffer: Before Bourgeois Dignity you wrote The Bourgeois Virtues. Do you think our debt-ridden culture is a manifestation of a decline in the bourgeois virtues, or is that just romantic nonsense?"

McCloskey: [deleted]

"A more up-to-date reply is that so long as various Oriental protectionists (in the 1970s it was the Japanese, not the Chinese) are so foolish as to send Americans TV sets and hammers and so forth in exchange for IOUs and green pieces of paper engraved with American heroes, wonderful. Would you personally turn down such a deal? If your personal checks circulated as currency, and the grocer was willing to give you tons of groceries in exchange for eventually depreciated Matt-dollars, wouldn’t you go for it? I would, and drink champagne."

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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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