BBC News: Reports that both the EU and Portugal has denied that a bailout is in the works after the bailout of Ireland. This could be true folks, do politicians ever lie ?, but also lets look at the case of Ireland, for a very long time Ireland denied it needed a bailout but was forced by the EU to take a bailout as its debts had caused Portugal and Spain to pay more for leading from the bond market. The Irish bailout is on a cliff folks, its open to question if the Irish Parliament will pass the needed austerity package that was a condition of the EU/IMF bailout. Thus it can be argued that the bond markets will bet against Portugal and that Portugal will also need a bailout, money talks folks, greed is good!
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