portugal

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%...

Greece... Ireland... Now Portugal. Amid worries of rising debt financing costs, France and Germany are reportedly pushing Portugal to take a bailout before their yields (and much of PIIGS') get worse. No formal talks have started yet.

I just ran across this interesting paper by Glenn Greenwald, available via the Cato Institute. It centers around Portugal and their decriminalization of all drugs (including cocaine, heroin, etc.) back in 2001 and the effect that it has had. The results may surprise those who advocate "war on...

With the crisis in Greece many have warned of similar fates for Portgual and Spain. Just today, the credit rating on Portugal's debt was reduced to AA- by Fitch Ratings. The rating agency also warned of future reductions unless the government changes its fiscal policy, which currently includes a...