Tuesday, 29 March 2011

Portugal Downgraded Again

Portugal has now been downgraded twice in less than a week. Default looms unless there's a bailout:
LISBON/ATHENS, March 29 (Reuters) - Standard & Poor's downgraded Greece and Portugal on Tuesday, citing risks that the countries' debts could be subordinated to any future European bailout mechanism, and sending their bonds sharply lower.
Interestingly (my emphasis):

The downgrades left Portugal one notch above junk and Greece's creditworthiness below that of Egypt, deepening the debt troubles for two of the weakest countries in the euro zone.

When will this nonsense end?


  1. "When will this nonsense end?"

    When they start dumping the Euro.


  2. When we simply walk away from the 'union'. If Cameroid won't do it and he won't we unelect him and just walk away.

  3. To quote Bill Callahan from Tower Of London fame on Youtube...

    "Henry Tudor became King. He had no real claim on the throne he just picked the crown from the dead King Richard's head and placed it upon his own"

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  5. William,

    Check out my latest post.

    The queen isn't a queen either. She is a peon like the rest of us!