Portugal

This is an update to today's weekly on Ireland and Portugal. Olli Rehn, the European Economics Commissioner has just confirmed my months' long forecast on how the Irish and Portuguese bailouts would proceed: with an OMT-style exit…

Last October, I highlighted the issue of bailout extensions to Ireland and Portugal and so I want to re-visit this theme now that Portugal and Ireland are in the news looking to change the terms of their existing bailouts.

The IMF has told Portugal that the draconian austerity budget it has passed for 2013 will not be enough a nd has asked for more austerity. Portugal needs to make up a 4 billion euro gap and to do so the IMF wants to see cuts to government…

This weekly is a follow-up post to the daily I wrote on Greece earlier in the week. As I indicated then, my position on Greece has always been that eurozone leaders would be loathe to 'kicking Greece out of the euro zone". The talk of a…

By Marc Chandler Greece has had trouble implementing the structural reforms demanded in exchange for aid.  The large and rising debt/GDP ratio is also a function of the larger than officially (Troika) expected contraction in the Greek…

Today's links have three major themes. They are the continuing economic and political problems in Europe, the impact of the global growth slowdown on earnings and the escalating mobile war between Apple and Android. First on the European…

Mired in the worst recession since the 1970s, Portugal's governing coalition is going to turn up the austerity dial even higher. The goal is to reduce the Portuguese deficit to 4.5% of GDP in 2013 in order to be in a position to switch out…

The Financial Times is reporting that Portugal is likely to need an extension of the three-year bailout plan it received in 2010. This is a disaster for the euro zone and I am writing this post to explain why. The most pressing issue is…

Note: I missed a few articles here, so I may be updating this post with them later today. Or I may put them in the next daily links post As I said last year about the Troika's coming occupation of the periphery, none of these countries is…

Some maintain that Italy and Spain risk losing market access for their sovereign bonds despite drops in yields. A recent Vox column by Francesco Giavazzi suggested that Italy could and should avoid a bailout. This column argues that in…