Telegraph: Reports that Portugal could be next to go broke, the pressure is building on Portugal due to the negative news on Ireland. At the moment, Portugal, Ireland, Greece and Spain are the PIGS that have over eaten and could cause a collapse of the Euro, the question is what should the EU do and the UK. It is a self made EU problem, there is no economic centre in the EU, the EU does not control the budgets of this Euro countries, thus you have the power house of Germany that’s has to bail out the PIGS, the German tax payer is not to pleased, they have every right to be VERY unhappy. The UK has announced that it will support Ireland to the tune of seven Billion pounds. The UK does not have choice, if our close economic neighbour goes belly up we could have a major depression. Any good news, the handouts will either work or not, its that simple folk.
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