Community Views : What’s on the boards today….10th Jan 2011

10th January 2011

The Telegraph

"Portuguese bond yields are expected to come under further pressure today, after the country's president was forced to deny the need for a €80bn (£66bn) bail-out."

mikey2 says:"Same script as Ireland isnt it?"

with the response from Not_A_Number: "Yes. A very predictable script indeed"

The Guardian readers are agreeing with the Telegraph:

WorcsPhil writes: "Didn't Ireland make similar denials just before it went under?"

FT Alphville is also reporting this story.

The Wall Street Journal are also covering this story;

"The euro zone's debt crisis is entering a new phase after a brief Christmas lull as Portugal struggles to persuade investors to buy its bonds and other European governments step up pressure on the country to seek an international bailout."

Bruce Birkett writes: "Sad Portugal. It raises taxes (VAT so that effectively it has created 3% inflation over the last 12 months from taxes alone). Yet, friends say that the police effectively say burglary criminals won't be sought or punished because even the courts don't have money to pay their bills. As far as making the country less bureaucratic or business friendly, well, there are lots of stories here to. Would a bailout help? It's like giving someone fish who really doesn't want to know how to fish – or, in this case, fix their economy and confront communist leaning unions. All very sad.

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