Tuesday, April 27, 2010
Next comes Portugal, then …..
"With a higher debt burden and a slower 10-year growth rate than Greece, Western Europeâ€™s poorest country is being punished by investors as the sovereign debt crisis spreads. The risk premium on Portuguese bonds rose to more than double the past yearâ€™s average this month. Portugal plans to raise as much as 25 billion euros this year, equivalent to 15 percent of GDP. That compares with 21 billion euros last year, according to the national debt agency". "The countryâ€™s 236 percent debt burden last year compares with 205 percent in Italy"