Posted on 03/22/2011 12:48:08 PM PDT by rightwingintelligentsia
LISBON, Portugal (AP) -- Portugal's government is on the verge of collapse after opposition parties withdrew their support for another round of austerity policies aimed at averting a financial bailout.
The expected defeat of the minority government's latest spending plans in a parliamentary vote Wednesday will likely force its resignation and could stall national and European efforts to deal with the continent's protracted debt crisis.
(Excerpt) Read more at finance.yahoo.com ...
easy solution. They should go back to the Escudo set it at four to one to the euro. Most smaller european countries would follow suit and the euro problem goes away.
"What happens when an entire country buries it collective head up its ass.."
This could be us soon, in fact if the Dems keep power it’s almost a certainty it will.
Someone borrowed a hell of a lot of money in Portugal, and its clear the taxpayers don’t want to pay it back.
Save the Germans marching into Portugal and demanding reparations, I really don’t see what the EU can do.
Wow. Who could have imagined that bailouts and borrowing would lead to trouble? /s
Along with the Euro.
It was a dumb idea, anyway.
>”What happens when an entire country buries it collective head up its ass..”<
.
It will meet the US in that darkness.
AP actually printed this. Someone please send me some smelling salts.
Portugal’s Socialist government runs out of people to tax. As all Socialist governments do.
Let the socialist domino fall and keep falling,a lot of the left took a cue from the authoritarian policies practiced by their North African counterparts(such as Gaddafi).
If the “left”,which at this point is an authoritarian brand of government,loses ground in Europe and sees what happens to their friend in Libya.It will become that much harder for them to hold on to what they’ve gained in the States.
Precisely my reaction.
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