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Thread: Portugal budget talks collapse, threatening crisis

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    Politics.ie Member Ulster-Lad's Avatar
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    Default Portugal budget talks collapse, threatening crisis

    Budget talks between Portugal's Socialist government and the main opposition party ended on Wednesday without a deal, raising the risk of a political and financial crisis in one of the euro zone's weakest members.
    Socrates has threatened to resign if the budget is not approved and ministers have warned that Portugal could be forced to seek a financial rescue, as Greece did earlier this year.
    * Finance minister says there will be no further talks

    * Bond spreads widen on news talks ended without deal

    * Portugal may be forced to seek rescue early 2011-analyst
    UPDATE 2-Portugal budget talks collapse, threatening crisis | Reuters

    Portugal may beat us and default first. Not good news here either.
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    Perhaps we should loan some of our better Ministers to them---would suggest Lenny and Gormless and transfer Ryan on permanent loan--he would electrify them .

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    Quote Originally Posted by loner View Post
    Perhaps we should loan some of our better Ministers to them---would suggest Lenny and Gormless and transfer Ryan on permanent loan--he would electrify them .
    Lenny's Portugese is probably as good as his French. Pity about his economics!

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    This is good news, let them default. That's what we should have done two years ago.
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    Politics.ie Member Hewson's Avatar
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    Quote Originally Posted by FakeViking View Post
    Lenny's Portugese is probably as good as his French. Pity about his economics!
    But neither is as good as Cowen's Greek. He was on the News at One droning on in the usual incoherent, slurring, mumbling way only he knows. How in God's name does anyone get a handle on what he's saying, much less make sense of whatever it is he's trying to say.

    A national embarrassment who needs to sign himself in somewhere for treatment followed by elocution lessons.
    Abortion is an act of violence. Violence demeans humanity, particularly violence against women and children.

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    Lovely. Get in the popcorn. Lets wait for the pathetic excuses about the stability of EU now from the Eurotron posters here.

    "Socrates has threatened to resign..."?

    Wouldn't blame him. The whole project is completely devoid of the human condition at this stage from the Skynet operatives in Brussels.

    What age is Socrates now? 2000 years of pension payments?. He must be minted.
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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    Quote Originally Posted by Hewson View Post
    But neither is as good as Cowen's Greek. He was on the News at One droning on in the usual incoherent, slurring, mumbling way only he knows. How in God's name does anyone get a handle on what he's saying, much less make sense of whatever it is he's trying to say.

    A national embarrassment who needs to sign himself in somewhere for treatment followed by elocution lessons.
    Remember his predecessor won 3 GE's! We can only blame ourselves.

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    Belgium not far off defaulting either.

    Is Belgium next?
    ‘The Great only appear great because we are on our knees: Let Us Rise!’ “ (James Larkin)

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    Hilarious! Gormley was in the Dail today singing the praises of the Portugese budget 'consensus' process.

    Looks like he gave them the Green Party Kiss of Death!

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    Quote Originally Posted by Cassandra Syndrome View Post
    Lovely. Get in the popcorn. Lets wait for the pathetic excuses about the stability of EU now from the Eurotron posters here.

    "Socrates has threatened to resign..."?

    Wouldn't blame him. The whole project is completely devoid of the human condition at this stage from the Skynet operatives in Brussels.

    What age is Socrates now? 2000 years of pension payments?. He must be minted.
    Meanwhile, in Athens:

    Deficit that sparked Greek crisis tops 15 pct-finmin

    The cost of insuring Greek debt against default rose on Wednesday as risk aversion to the sovereign continued to grow after a series of negative comments, while bonds sharply underperformed German debt.

    Five-year credit default swaps (CDS) on Greek government debt rose to 730 basis points, up 49 bps according to data monitor Markit.
    UPDATE 3-Deficit that sparked Greek crisis tops 15 pct-finmin | Reuters
    We have turned the corner.I commend this Budget to the House. Brian Lenihan, 9 December 2009

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