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Saturday, 11 February 2012

Portugal might cause next euro crisis

Portugal needs adjustments to their 2011 bail-out package.  Germany would be ready to agree to more flexible terms for their 78M euro package.

Portuguese bond yields soaring above 17% render unlikely Portugal's return to normal financial markets before the 2013 deadline.  Recession, and the inability to reduce the budget deficit as agreed, make the situation more difficult for Portuguese economic recovery.

See Der Spiegel's, Washington Post's reports.

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