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 Post subject: Portugal: The next chapter
PostPosted: Fri Jan 14, 2011 9:15 pm 
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Portugal: The next chapter -> http://www.bbc.co.uk/blogs/thereporters ... apter.html

Quote:
The Portuguese government almost certainly has the ECB to thank for being able to borrow 10 year debt from the markets this morning at an interest rate of around 6.7%.
A Portuguese broker talks on the phone in Lisbon
But even with this auction, most now consider it a question of when, not if, Lisbon will join the list of eurozone governments turning to Europe and the IMF for emergency support.
<snip>
No, Portugal's problem is that whatever issues it has with its banks and its public borrowing are being greatly magnified by the country's weak prospects for growth.

more


Aha, that magic bullet, growth... :x


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 Post subject: Re: Portugal: The next chapter
PostPosted: Sun Jan 16, 2011 11:40 am 
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Is default Portugal’s Manifest Destiny? -> http://uk.ibtimes.com/articles/101252/2 ... estiny.htm

Quote:
The European government is striving to appease its trading partners and calm the financial markets to allow the benefit of time to aid in working through these untenable circumstances. Ultimately, a default might still be in the offing whether it is strategic or involuntary. The countdown to the expiration of these loans will be on investors' minds since on the table is a proposition that bond holders may have to "share the pain" of a restructuring by haircutting the value of their holdings. That disregard of the contractual obligation an issuer has to the holders of its debt would cause a potentially explosive dislocation in the financial markets and could test the fate of the Euro currency as it is currently constructed. While that possibility is low if current rhetoric on that front is to be believed, the bond market vigilantes may have something different to say on that front.

there is more


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 Post subject: Re: Portugal: The next chapter
PostPosted: Mon Jun 04, 2012 8:22 am 
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Breaking news ...

Portugal to Bailout 3 Banks with €6.65 BN

http://businessetc.thejournal.ie/portug ... itter_self

Quote:
PORTUGAL IS TO inject €6.65 billion into three of its banks, according to reports this morning.

BPI has confirmed that the State will take €1.5 billion worth of convertible bonds in order to reinforce the bank’s core capital holdings.


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 Post subject: Re: Portugal: The next chapter
PostPosted: Mon Jun 04, 2012 10:15 pm 
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yep front page of Tomorrows FT
Quote:

The Portuguese government will inject 6.6bn euros into three of the country's largest banks, becoming the latest eurozone country to tap international bailout funding for an undercapitalised financial sector, according to the Financial Times.


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 Post subject: Re: Portugal: The next chapter
PostPosted: Mon Jun 04, 2012 10:48 pm 
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Did they have a "bank holiday" too?

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 Post subject: Re: Portugal: The next chapter
PostPosted: Tue Jun 05, 2012 4:08 pm 
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Work until you die says ex AIG boss -> http://www.dn.pt/inicio/economia/interi ... iro%20Vivo


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