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:
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.

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.
Portugal is about to be bailed out - with our money.

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