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Realistbear

Portugal Downgraded Again As Big Banks Refuse Debt

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http://uk.finance.yahoo.com/news/Portugal-downgraded-banks-reuters_molt-874418317.html?x=0

Elisabete Tavares and Axel Buggerme, 16:07, Tuesday 5 April 2011
LISBON (
Reuters
) - Portugal's credit rating was downgraded again on Tuesday and its biggest banks reportedly threatened to stop buying government debt, urging the caretaker administration to seek a short-term loan during pre-election limbo.

I think the collapse in the Eurozone has been priced into the Euro now as it barely moves these days despite poisons hatching out of the mud all over the place.

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Business daily Jornal de Negocios said the heads of the country's biggest banks met the governor of the Bank of Portugal on Monday, telling him demanding that the country should secure short-term financing give them all their taxpayer's money like the Irish, UK, and Greece governments have done for their banks to soothe concerns dupe the public until a June 5 general election.

Edited by Redhat Sly

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Another day, another downgrade.

Just as well the ECB is vigilant, and ready to hike rates three times this year :D

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I think the collapse in the Eurozone has been priced into the Euro now as it barely moves these days despite poisons hatching out of the mud all over the place.

Following your logic it looks more like the USD will collapse first:

http://finviz.com/fo...?t=EURUSD&tf=d1

fx_image.ashx.png

post-6981-0-43587300-1302045024_thumb.png

Edited by wise_eagle

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Business daily Jornal de Negocios said the heads of the country's biggest banks met the governor of the Bank of Portugal on Monday, telling him demanding that the country should secure short-term financing give them all their taxpayer's money like the Irish, UK, and Greece governments have done for their banks to soothe concerns dupe the public until a June 5 general election.

Yes, which country shall we stitch up next.

Portugal's main problem is lack of growth. It's already been doing austerity, which of course doesn't help at all. I don't see what it can do for an encore.

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Germany and friends can handle Portugal, Greece and Ireland blowing up.

Right now its just printing more euros to handle any losses. And since inflation is relatively low there is room to spare.

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Yes, which country shall we stitch up next.

Portugal's main problem is lack of growth. It's already been doing austerity, which of course doesn't help at all. I don't see what it can do for an encore.

Ya no real point trying austerity, if it maybe buys 2 weeks before they blow up from austerity's spiral effects. That is why the Portugese opposition was empowered.

Britain is the same, and the Tories figured it out before they did cuts. Its better to try to borrow and spend and print your way out.. than to implement austerity and have failure a sure thing.

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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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