Connect with us

Hi, what are you looking for?

Athens Times


Notice: Undefined offset: 0 in /usr/www/users/athense/wp-content/themes/zoxpress/parts/post/post-head.php on line 4

Notice: Trying to get property 'cat_name' of non-object in /usr/www/users/athense/wp-content/themes/zoxpress/parts/post/post-head.php on line 4

Portugals Disaster – A New Disaster for the Euro Currency ?


Deprecated: implode(): Passing glue string after array is deprecated. Swap the parameters in /usr/www/users/athense/wp-content/plugins/theia-post-slider/TpsNavigationBar.php on line 69

Deprecated: implode(): Passing glue string after array is deprecated. Swap the parameters in /usr/www/users/athense/wp-content/plugins/theia-post-slider/TpsNavigationBar.php on line 69
Prev1 of 4
Use your ← → (arrow) keys to browse

Portugals Disaster – A New Disaster for the Euro Currency ?

Portugals Disaster – A New Disaster for the Euro Currency ?


Free Online Articles Directory




Why Submit Articles?
Top Authors
Top Articles
FAQ
ABAnswers

Publish Article

0 && $.browser.msie ) {
var ie_version = parseInt($.browser.version);
if(ie_version Login


Login via


Register
Hello
My Home
Sign Out

Email

Password


Remember me?
Lost Password?

Home Page > Business > Portugals Disaster – A New Disaster for the Euro Currency ?

Portugals Disaster – A New Disaster for the Euro Currency ?

Posted: Apr 20, 2011 |Comments: 0
|




]]>

Portugal’s parliament rejected a model new authorities austerity plan Wednesday, spurring the resignation of Prime Minister José Sócrates and setting off a new section in Europe’s sovereign-debt crisis.

 

 

Portugal’s Prime Minister Jose Socrates, left, gestures beside Finance Minister Fernando Teixeira dos Santos throughout a parliament session in Lisbon on Wednesday.

Advertisement. Scroll to continue reading.
>

 

The failure to move the measure, after a heated debate, threatened to push already-excessive authorities borrowing prices to unaffordable levels and drive Lisbon to hunt a bailout.

 

That will make Portugal the third among the many 17 nations that use the euro to use for help from other members of the European Union and the International Monetary Fund. Greece and Eire went first.

 

The occasions in Portugal may present a sign of whether the euro zone’s debt travails will likely be contained within three small countries or start to undermine greater economies.

 

There’s plenty of cash in Europe’s bailout funds to handle Portugal’s possible financing needs over the next few years, working into tens of billions of euros. Nonetheless, if Portugal loses entry to market finance, as now seems seemingly, the result may be to shift attention to Spain, the euro zone’s fourth-largest economy and the one traders have recognized as its next-most-vulnerable, partly because of its weak banking system.

 

 

A senior Spanish authorities official mentioned costs of Spain’s bonds and different property could “face some short-term, speculative strain” linked to Portugal’s woes, but, as on prior occasions of intense market volatility, “Spain will continue transferring ahead with its reform efforts.” These have included consolidation and recapitalization of native banks.

 

Portugal’s crisis might be on the forefront of the agenda of an EU summit assembly in Brussels on Thursday. European leaders have spent recent months cobbling together a comprehensive package deal they hope will remedy once and for all of the euro zone’s debt crisis.

 

Thursday’s meeting is expected to settle a brand new submit-2013 bailout fund, capable of lend €500 billion, or about 0 billion, and an accord to improve countries’ competitiveness. However a call on enlarging the lending capacity of the current bailout fund beyond its roughly €250 billion has been put off.

 

Portugal’s Mr. Sócrates, who is anticipated to serve as a caretaker prime minister till a new government is shaped or an election held, plans to attend the Brussels summit, though his negotiating and policy-execution powers will seemingly be very limited.

 

Portugal has come underneath quiet strain from other European governments over a quantity of months to take a bailout, however Mr. Sócrates has resisted.

 

Advertisement. Scroll to continue reading.
>

Citigroup economists mentioned Wednesday that a vote by parliament to reject Mr. Sócrates’s austerity measures would mean rising political uncertainty that “would increase market concerns and consequently…increase the possibilities that Portugal will be compelled to simply accept a formal EU/IMF bailout package.

Forex Signal Service at: http://forexlearning.singledad.de

 

Retrieved from “http://www.articlesbase.com/business-articles/portugals-disaster-a-new-disaster-for-the-euro-currency-4643406.html

(ArticlesBase SC #4643406)

Watch your traffic increase just by submitting articles with us, click here to get started.
Liked this article? Click here to publish it on your website or blog, it’s free and easy!

tomhtz7hal
About the Author:

M. Karl, Forex Trader
Forex Signals

]]>
Questions and Answers

Ask our experts your Business related questions here…

Ask

200 Characters left

How many countries use the euro currency?
What is the best approach to use forex signal in forex trading? Is this driven by fundamental aspect of trading?
HI I am learning forex trading myself but till now i still don’t understand what i should have in order for me to earn in forex. I am not a news reading person, is this a must to understand the news?

Rate this Article

Use your ← → (arrow) keys to browse
Click to comment

Notice: Undefined variable: user_ID in /usr/www/users/athense/wp-content/themes/zoxpress/comments.php on line 51

You must be logged in to post a comment Login

Leave a Reply

You May Also Like

Advertisement