Britain is facing another multi-billion euro bail-out bill as Portugal followed Ireland into debt crisis when the country's government on Wednesday night lost a confidence vote on austerity measures.Portugal is about to be bailed out - with our money.
The prospect of a new Portugal crisis and a potential bail-out worth up to £61 billion will overshadow Thursday's EU summit, a meeting aimed at repairing the damage done to the euro by Irish and Greek bailouts last year.
Wednesday, 23 March 2011
Open Your Wallets (Again)
On budget day here when, laughably, we have had a so-called "budget for growth", the Portuguese Prime Minister Jose Socrates has resigned after the country's parliament rejected an austerity budget: