Realistbear Posted May 3, 2011 Report Share Posted May 3, 2011 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. Quote Link to post Share on other sites
Deckard Posted May 3, 2011 Report Share Posted May 3, 2011 (edited) wow, that's unexpected indeed ! Edited May 3, 2011 by Greener Pastures Quote Link to post Share on other sites
Reck B Posted May 3, 2011 Report Share Posted May 3, 2011 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. Quote Link to post Share on other sites
interestrateripoff Posted May 3, 2011 Report Share Posted May 3, 2011 At least the bailout costs are only 25% out. If they need a second bailout I'm sure the costs will be even higher... Quote Link to post Share on other sites
Game_Over Posted May 3, 2011 Report Share Posted May 3, 2011 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? Quote Link to post Share on other sites
Bloo Loo Posted May 3, 2011 Report Share Posted May 3, 2011 Loans are NOT costs. they are new assets. Quote Link to post Share on other sites
thedude Posted May 3, 2011 Report Share Posted May 3, 2011 Sorry, just made me think of this Quote Link to post Share on other sites
Executive Sadman Posted May 3, 2011 Report Share Posted May 3, 2011 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. Quote Link to post Share on other sites
Tiger Woods? Posted May 3, 2011 Report Share Posted May 3, 2011 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". Quote Link to post Share on other sites
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