Seeking Alpha

Portugal to exit rescue program without insurance of credit line

  • Portugal plans to exit its international bailout program without taking a precautionary credit line from its lenders, the EU and the IMF. The move, which follows a similar step by Ireland, will cut the oversight that Portugal has had to endure.
  • Instead, Portugal will rely on international debt markets for financing after it receives the final tranche of its €78B ($108B) rescue package in June. Ten-year yields are flat at 3.63% vs over 18% in January 2012.
  • While the exit from the assistance program after three years marks a turnaround in Portugal's fortunes, economic growth remains fragile, and unemployment and debt high.
  • The PSI 20 is -0.1%.
  • ETF: PGAL
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs