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The Masked Tulip

Any News On Portugal

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Vote is this evening according to this:

MADRID (MarketWatch) — Financial markets were facing intense pressure in Lisbon on Wednesday ahead of a key parliamentary vote on austerity measures on which Portugal’s Prime Minister Jose Socrates has staked his political future.

The parliament will vote this evening on whether to pass a growth and stability plan proposed by the minority government on March 10. The plan has gotten the backing of the European Union, but the country’s main opposition Social Democratic Party has said it won’t support the plan

http://www.marketwatch.com/story/portugal-government-faces-key-austerity-vote-2011-03-23?reflink=MW_news_stmp

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More here.

The governing Socialist Party's parliamentary leader Francisco Assis made an 11th-hour appeal for opposition rivals to negotiate changes to the latest austerity package and ensure the government's survival. Prime Minister Jose Socrates, who heads the government, has said he will no longer be able to run the country if the package is rejected.

The governing Socialist Party seems to be the operative words when discussing collapse here.

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http://ftalphaville.ft.com/blog/2011/03/23/525226/portugal-on-the-brink/

The FT's take is that it is one big constitutional mess. No elections till June, nobody with any legal authority to negotiate with the EU paymasters.

Gonna be fun in the markets tomorrow.

Trichet to start work early buying lots of Portuguese bonds. 50billion euros worth should stem the tide.

Edited by ralphmalph

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Who's next? Presumably the next one will have to be one of the Agatha Christie like PIIGS - my money is on ESP.

Although I still fancy Belgium as a bit of an outsider to go pop, but their politics is so fragmented & complex @ the best of times that I guess it would be difficult to tell if it got much worse (other than the obvious of splitting into Flanders/Wallonia/Brussels).

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Who's next? Presumably the next one will have to be one of the Agatha Christie like PIIGS - my money is on ESP.

Although I still fancy Belgium as a bit of an outsider to go pop, but their politics is so fragmented & complex @ the best of times that I guess it would be difficult to tell if it got much worse (other than the obvious of splitting into Flanders/Wallonia/Brussels).

Yes but 'fool me once, then shame on you, fool me twice and...well you know, by the time it gets to three times then everyone starts having doubts, Portugal is number 3 so surely people aren't going to wait around until about July for spain to curl up and die? Something big's going to happen very soon?

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  • 284 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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