Skip to comments.Europe debt crisis spreads to Portugal
Posted on 04/27/2010 4:30:58 PM PDT by Kartographer
Greece was pushed to the brink of a financial abyss and started dragging another eurozone country Portugal down with it Tuesday, fueling fears of a continent-wide debt meltdown.
Stocks around the world tanked when ratings agency Standard & Poor's downgraded Greek bonds to junk status and downgraded Portugese bonds two notches, showing investors that Greece's financial contagion is spreading.
(Excerpt) Read more at news.yahoo.com ...
PIGS — Portugal, Italy, Greece, Spain -— the first to fall under the crush of their unsustainable welfare state.
Un-hunh. First, most Christian states to be left for dead by an atheistic regime.
You read it here first (a couple of months ago).
May whoever coined that term dine with them forever.
Being "Christian" nations don't mean d--k. Said nations are being punished for profligate fiscal policies, not whatever little "religious" devotion is left.
This is a radical oversimplification, an attribution, if you will, of the sickness to the symptoms.
It’s actually PIIGS...
Portugal, Italy, Ireland, Greece and Spain...they really are like dominoes, because Greece will bring down the Portagee, they in turn bring down Spain, who sucks down Italy, and so forth...
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