Portugal Bailout To Cost 100 Billion Euros

[Realistbear]

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.

[Deckard]

wow, that's unexpected indeed !

Edited May 3, 2011 by Greener Pastures

[Reck B]

It's amazing how miscalculations on this scale can occur - it's like major IT projects or the olympic costs etc... all under-estimated to the tune of BILLIONS.

[interestrateripoff]

At least the bailout costs are only 25% out.

If they need a second bailout I'm sure the costs will be even higher...

[Game_Over]

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?

[Bloo Loo]

Loans are NOT costs.

they are new assets.

[thedude]

Sorry, just made me think of this

[Executive Sadman]

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.

[Tiger Woods?]

It's amazing how miscalculations on this scale can occur - it's like major IT projects or the olympic costs etc... all under-estimated to the tune of BILLIONS.

It's because contracts are always awarded to the "lowest bidder".