Portugal = 2nd Bailout ?

The New York Times: Reports that Moody’s a Credit Agency has stated that Portugal might need a 2nd bailout, like Greece. Folks this is a mess, at what point will the EU/IMF just cut bait, how much pain can the French and German taxpayer take to save Greece, Portugal and in the future Ireland. These Countries are in effect bankrupt, Moody’s has declared the debt rating of Portugal to be junk, its going to go under sooner or later, the peoples of Greece, Portugal and Ireland will not be able to cope with the tough austerity package that these countries will have to go through, the economies in these countries will decline, this will increase those out of work, thus more debt to the welfare structures of these countries. These Countries need to ditch the Euro, default on their debts, and restart, otherwise the people will suffer just to protect the banks of the inner EU, e;g Germany and France. The UK can not afford to give another bailout to Ireland, it would better for our banks to take the hit and move on, otherwise its just money down the toilet, the finance ministers of the EU don’t have a clue, they are believing their own press statements, that is the road to madness.