Portugal reaches agreement with EU and IMF for 116 billion dollars bail-out

Tuesday, May 3rd 2011 - 22:52 UTC

Full article 3 comments

Portugal’s caretaker Prime Minister Jose Socrates announced Tuesday that he has reached agreement on a bail-out from the EU and the International Monetary Fund. He said the three-year loan was a “good agreement that defends Portugal”. Read full article

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Fido Dido
116 billion dollars will eventually become 120 billion dollars and higher and higher. Those chumps, they just dig their own grave and of the poeople of Portugal. Some people will just never learn from History.
May 04th, 2011 - 12:21 am - Link - Report abuse 0
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GeoffWard
It might be more sensible if Portugal reverted to that short phase in its history where the crown was located in Brasil. . .
but nowadays the prefered mode is to offer geographically distant entities 'Departement' status or Overseas Territory status - thus 'broke' Portugal could become part of Greater Brasil.
May 04th, 2011 - 08:28 pm - Link - Report abuse 0
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Fido Dido
“thus 'broke' Portugal could become part of Greater Brasil. ”

Not going to happen. What Brazil can do is. 1, be very nice and buy their gold (Portugal's gold reserve and Portugal needs money) or 2, Brazil can lend them the money “against a good interest rate”, make sure it's so good that they (Portuguese) can't pay it back, and later demand to be paid back in gold and other assests.
May 07th, 2011 - 06:33 am - Link - Report abuse 0
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