Perhaps it may need a second bailout, perhaps it won't but selling ten year paper for the first time since bailout will be seen as a confidence booster. We have done similar. Edge your way back to normal borrowing.
Perhaps it may need a second bailout, perhaps it won't but selling ten year paper for the first time since bailoutnwill be seen as a confidence booster. We have done similar. Edge your way to normal borrowing.
I agree that is, as in Ireland, how the Portuguese government will spin it. Governments lie, numbers don't.
It is my opinion that you cannot "edge your way to normal borrowing" (or economic success for that matter) by continually increasing debt. You achieve that through growth and debt-reduction.
Today’s European purchasing managers indexes (PMIs) suggested the euro zone is on course for a worse downturn in the current quarter, with Germany now suffering a contraction in business activity that has long dogged France, Italy and Spain.
One would expect things to start looking up for them. Lets see. ECB lowers interest rates they raise them. Increase variable mortgage charges to make up for losses incurred through the economy and trackers. Is that about right?
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