Portugal rejects austerity measures, government collapse imminent

myp · Mar 23, 2011

Portugal rejected the minority government's move for further austerity measures earlier today. The country is likely headed towards bailout now and should that happen, Prime Minister Jose Socrates is expected to resign and the government to collapse.

Meanwhile, Ireland's 10-year passes 10%. Not a pretty sight within the Eurozone right now...

DodgeFB · Mar 23, 2011

myp said:
Portugal rejected the minority government's move for further austerity measures earlier today. The country is likely headed towards bailout now and should that happen, Prime Minister Jose Socrates is expected to resign and the government to collapse.

Meanwhile, Ireland's 10-year passes 10%. Not a pretty sight within the Eurozone right now...

Seems to be a bad year for anyone running a country. I don't remember there ever having been so many countries changing or trying to change leadership.

It it a point to ponder.

obtuseobserver · Mar 23, 2011

myp said:
Portugal rejected the minority government's move for further austerity measures earlier today. The country is likely headed towards bailout now and should that happen, Prime Minister Jose Socrates is expected to resign and the government to collapse.

Meanwhile, Ireland's 10-year passes 10%. Not a pretty sight within the Eurozone right now...

so much for the claims that the euro would sink the dollar

do not read that as an endorsement of the dollar but of how hard even our weak currency is to challenge

myp · Mar 24, 2011

obtuseobserver said:
so much for the claims that the euro would sink the dollar

do not read that as an endorsement of the dollar but of how hard even our weak currency is to challenge

Well looking at EURUSD movements over the past few weeks, even with these things happening the EUR has been gaining on the USD (even the Portugal news only set the exchange rate back modestly). Not because of their strengths though, just more because of our weaknesses and the growing loss of faith in our currency.

Iolo · Mar 24, 2011

The rich will always use the economic crises they cause to attack other people's living standards, which is what's happening in Europe now. In the US the rich have their own idiot rentamob howling to cut off their own feet - or even better, to shoot 'em off with legal rockets. 'I wish I loved the human race'.

obtuseobserver · Mar 24, 2011

Iolo said:
The rich will always use the economic crises they cause to attack other people's living standards, which is what's happening in Europe now. In the US the rich have their own idiot rentamob howling to cut off their own feet - or even better, to shoot 'em off with legal rockets. 'I wish I loved the human race'.

yes - but take comfort knowing you can steal whatever you wish from them and after you've stolen everything you can eat their children for fun

myp · Mar 25, 2011

DodgeFB said:
Seems to be a bad year for anyone running a country. I don't remember there ever having been so many countries changing or trying to change leadership.

It it a point to ponder.

Funny that you said that. It really seems like a daily occurrence at this point. Today's lucky winner with a government collapse: Canada.

David · Mar 25, 2011

myp said:
Funny that you said that. It really seems like a daily occurrence at this point. Today's lucky winner with a government collapse: Canada.

Hell, even our gov't seems to be making an appointment with the brick wall of doom. :unsure: I hope nobody is on the Public payroll because those paychecks won't be coming in for much if things keep going the way they are.

Iolo · Mar 26, 2011

obtuseobserver said:
yes - but take comfort knowing you can steal whatever you wish from them and after you've stolen everything you can eat their children for fun

I am unconsoled!

Portugal rejects austerity measures, government collapse imminent

Similar threads