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Portugal Bailout To Cost 100 Billion Euros


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LISBON (Reuters) - Portugal needs over 100 billion euros (89 billion pounds) in EU/IMF (Berlin: MXG1.BE - news) loans, including up to 10 billion euros for its banks, but there are doubts whether Brussels will allow the bailout to exceed its initial target of 80 billion euros, Diario Economico newspaper said on Tuesday.

Looks like this week is going to be a bear week!

Quick--buy Euros.

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The only trouble is - Europe's politicians will take Europe into the abyss before they will let go of this project.

The 4th Reich was supposed to last a 1000 years

I wonder how long the 5th Reich will last?

:blink:

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Does this mean the £5billion 'liability' contribution that Osbourne promised would never actually have to be paid will in fact have to be paid?

:angry:

http://www.channel4.com/news/britain-will-not-bankroll-portugal-says-osborne

Do our banks actually have any significant exposure to Portugal, or is this just another joy from the Beaureautwats in Brussels.

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