Telegraph: Reports that Greece has attacked the credit agencies for marking down the credit level of Portugal to junk. The argument being from the Greeks is that by devaluing Portugal debt this will lead to the crisis that Europe wants to avoid, but the TRUTH is the TRUTH folks, Greece is bust, so is Portugal and Ireland. The Greeks will get a 2nd bailout, as posted yesterday Moody’s the credit agency has stated that Portugal will also need a second bailout, one only has to wonder when Ireland will have its hand out for 2nd bailout. Lets recall folks this money does not go to the Greek people, it goes to the banks of Germany and France, all the games by these Countries is short term break to make sure their banks are secure before Greece has to default. The more France and Germany play games the more the crash when it comes will hurt Europe. The people that will be shafted will be the people of Greece, Portugal and Ireland.
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