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Portugal bailout within week

  • 30-11-2010 11:03pm
    #1
    Sir Oxman
    Closed Accounts Posts: 8,492 ✭✭✭


    http://www.zerohedge.com/article/portuguese-pm-response-downgrade-we-dot-not-need-any-help

    "Portuguese PM Response To Downgrade: "We Dot Not Need Any Help""

    The site above called Ireland correctly and it appears that Portugal are taking the exact same route as Ireland, yield rising quickly, denial, yield rises quickly, denial, bailout.

    I don't believe the Irish agreement will help stave off attacks on Portugal and save her.

    What are the chances of the Irish bailout being overtaken by events and some sort of EU-wide (inc the big boys club) devaluation of the Euro.


Comments

  • #2
    kippy
    Registered Users, Registered Users 2 Posts: 18,988 ✭✭✭✭kippy


    gambiaman wrote: »
    What are the chances of the Irish bailout being overtaken by events and some sort of EU-wide (inc the big boys club) devaluation of the Euro.
    Pretty high by the looks of it.........

    As farcical as that would have sounded just a few months ago.


  • #3
    Bullseye1
    Closed Accounts Posts: 5,731 ✭✭✭Bullseye1


    And then Spain, Italy and possibly France. The markets sure have the Euro Zone on the run.


  • #4
    kippy
    Registered Users, Registered Users 2 Posts: 18,988 ✭✭✭✭kippy


    Bullseye1 wrote: »
    And then Spain, Italy and possibly France. The markets sure have the Euro Zone on the run.

    One then again has to ask who these markets are made up of.......
    If the "markets" are predominately european based they should have no interest in seeing the Euro devalued, however are they more asian/US based?

    Are the people out there who will profit in a massive way if the Euro falls?


  • #5
    Sticky_Fingers
    Closed Accounts Posts: 1,379 ✭✭✭Sticky_Fingers


    I must be suffering from deja vu because it sounds erringly similar to the bleating of our own leaders just before they were led to slaughter by the EU big boys.


  • #6
    Bullseye1
    Closed Accounts Posts: 5,731 ✭✭✭Bullseye1


    I'm sure there are parties who want the Euro to fail and are speculating on it's failure.


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  • #7
    Bob_Latchford
    Registered Users, Registered Users 2 Posts: 399 ✭✭Bob_Latchford


    Greece 5.3?
    Ireland 5.8

    Once Portugals bond price goes above 6% its advantagous to get a "bailout"
    so why not


  • #8
    BeeDI
    Closed Accounts Posts: 805 ✭✭✭BeeDI


    Could I be right in thinking that Germany in particular and possibly France, would quietly like a devaluation of the euro, to level the playing field against the quantative easing done in US and UK. Make exports from the Ruhr Valley more competitive again.
    The minnows like PIIGS used as pawns in the process.


  • #9
    KindOfIrish
    Registered Users, Registered Users 2 Posts: 454 ✭✭KindOfIrish


    kippy wrote: »
    Are the people out there who will profit in a massive way if the Euro falls?
    Ireland, Germany and all other Eurozone exporters.


  • #10
    Sir Oxman
    Closed Accounts Posts: 8,492 ✭✭✭Sir Oxman


    Will the big EU boys change the rules they have forced Ireland to take when the Spanish catch PIIGS flu and when all that happens will Ireland be able to retrospectively get the private rotten bank debt off the country's back before it sinks our country?

    At this stage, I believe the can being kicked down the road by the EU via Ireland will only make it to January.


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