Cost of Portuguese debt rises to unsustainable levels

Discussion in 'Economy' started by Trajan, Jan 18, 2011.

  1. Trajan
    Offline

    Trajan conscientia mille testes

    Joined:
    Jun 17, 2010
    Messages:
    29,048
    Thanks Received:
    4,751
    Trophy Points:
    48
    Location:
    The Bay Area Soviet
    Ratings:
    +4,756
    well, looks like Portugal is next up in the box................ Balls in your court Merkel.
    What? Thats a No go?:lol: We'll see about that.



    Cost of Portuguese debt rises to unsustainable levels

    By David Oakley in London, Peter Spiegel in Brussels and Kerin Hope in Athens

    Published: January 18 2011 20:44 | Last updated: January 18 2011 20:45

    Portugal’s cost of borrowing brushed close to euro-era highs on Tuesday as Germany resisted calls to bolster the eurozone’s bail-out fund for heavily indebted economies on the continent’s periphery.

    Portuguese bond yields jumped above 7 per cent – a level that Lisbon has admitted is unsustainable – after concerns rose that the eurozone crisis could worsen, following comments from Wolfgang Schäuble, the German finance minister.


    Mr Schäuble appeared to put the brakes on plans to increase the size and scope of the €440bn ($588bn) European financial stability facility, at the end of ministerial meetings in Brussels.

    more at-
    FT.com / Markets - Cost of Portuguese debt rises to unsustainable levels
     
    Last edited: Jan 18, 2011
  2. william the wie
    Offline

    william the wie Gold Member

    Joined:
    Nov 18, 2009
    Messages:
    7,299
    Thanks Received:
    675
    Trophy Points:
    175
    Ratings:
    +1,614
    The EMU is not sustainable.
     
  3. Trajan
    Offline

    Trajan conscientia mille testes

    Joined:
    Jun 17, 2010
    Messages:
    29,048
    Thanks Received:
    4,751
    Trophy Points:
    48
    Location:
    The Bay Area Soviet
    Ratings:
    +4,756
    yea, but they'll die trying.....(?)
     
  4. william the wie
    Offline

    william the wie Gold Member

    Joined:
    Nov 18, 2009
    Messages:
    7,299
    Thanks Received:
    675
    Trophy Points:
    175
    Ratings:
    +1,614
    That was a simply awful pun whose only redeeming feature was its inadvertent origin.
     
    • Thank You! Thank You! x 1
  5. Trajan
    Offline

    Trajan conscientia mille testes

    Joined:
    Jun 17, 2010
    Messages:
    29,048
    Thanks Received:
    4,751
    Trophy Points:
    48
    Location:
    The Bay Area Soviet
    Ratings:
    +4,756
    :lol:

    do you think they will wait till collapse is around the corner or wind themselves out of the euro in an 'orderly' fashion?
     
  6. william the wie
    Offline

    william the wie Gold Member

    Joined:
    Nov 18, 2009
    Messages:
    7,299
    Thanks Received:
    675
    Trophy Points:
    175
    Ratings:
    +1,614
    My money is on catastrophic daisy chain explosive collapse.
     
  7. Trajan
    Offline

    Trajan conscientia mille testes

    Joined:
    Jun 17, 2010
    Messages:
    29,048
    Thanks Received:
    4,751
    Trophy Points:
    48
    Location:
    The Bay Area Soviet
    Ratings:
    +4,756
    hummmm...well, the pressure on Merkel is going to be enormous. Everyone from the eu parliament to ban ki moon, I am sure obama will dip his oar in too......

    I read an article, oh a month or so ago, from for. affairs that made the case that the euro really wasn't about money at all, that was thin patina, and thats why its doomed to failure in the end.
     
  8. william the wie
    Offline

    william the wie Gold Member

    Joined:
    Nov 18, 2009
    Messages:
    7,299
    Thanks Received:
    675
    Trophy Points:
    175
    Ratings:
    +1,614
    I'll comment further when I get back from the gym but Milton Friedman called this one a while back. The Euro was a lousy idea from the get-go.
     

Share This Page