Telegraph: Reports on a split in the leadership of the Portuguese Bank of England, it seems that Portugal will need a EU/IMF bailout after all the protestations of Portugal. Thus we have had Greece, Ireland now Portugal within a short period, who next, of course Spain. If Spain falls expect the political elites to really wake up or face real protests in the streets, the PIGS of the Euro cant live in the Euro currency. If the EU currency is to breath its needs to cut its weaker members, for the benefit of France and Germany and for these PIGS. The political elites have been conned, and they don’t have the guts to admit that Euro does not work when it covers such a big area, if Spain falls then it could make the Great Depression look like happy hour.
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