There's trouble brewing again in sovereign bailout land as Portugal's Constitutional Court...


There's trouble brewing again in sovereign bailout land as Portugal's Constitutional Court strikes down austerity measures in a binding decision that is expected to create a gap of €860M in the country's budget. The move could put Portugal's international bailout package in jeopardy although some economists believe a workaround is possible, according to WSJ.
Comments (13)
  • SoldHigh
    , contributor
    Comments (991) | Send Message
     
    Just rob the savers like Cyprus - what's the problem?

     

    <g>
    5 Apr 2013, 05:50 PM Reply Like
  • Ted Bear
    , contributor
    Comments (701) | Send Message
     
    Isn't Jack Lew over there to pull another Turbo Timmy? GIve US your tired, your poor, your junk debt.

     

    We give Yankee bucks for any garbage you can drag in.

     

    Problem solved.....until judgement day--whenever that might be.
    5 Apr 2013, 05:56 PM Reply Like
  • caupachow
    , contributor
    Comments (524) | Send Message
     
    Soon Ted; soon.
    6 Apr 2013, 12:15 AM Reply Like
  • june1234
    , contributor
    Comments (4406) | Send Message
     
    That decision cant be good for the derivatives market.
    5 Apr 2013, 08:01 PM Reply Like
  • Joe Springer
    , contributor
    Comments (2650) | Send Message
     
    Paging Dr. Santos, Dr. Paulo Santos..
    6 Apr 2013, 11:36 AM Reply Like
  • lpcongas99
    , contributor
    Comments (236) | Send Message
     
    ROFLMAO.................. all hilarious!
    6 Apr 2013, 11:46 AM Reply Like
  • Seth Walters
    , contributor
    Comments (675) | Send Message
     
    Paulo posted about this on his instablog before anything went down.
    6 Apr 2013, 01:52 PM Reply Like
  • Kyle Spencer
    , contributor
    Comments (1240) | Send Message
     
    Just say "nein!"

     

    http://bit.ly/SgbVZu
    6 Apr 2013, 06:06 PM Reply Like
  • HPBunker
    , contributor
    Comments (217) | Send Message
     
    I'm with Sold High; whenever the numbers don't add up, just rob the depositors. Anyone dumb enough to work hard and save for their own retirement should just be taken to the cleaners.
    6 Apr 2013, 07:50 PM Reply Like
  • Mike Burns
    , contributor
    Comments (45) | Send Message
     
    It's time to admit that there's no easy way out of the mess created by too much sovereign debt. Either there will have to be austerity, money creation, debt defaults or some combination of these on a grand (i.e. painful) scale.

     

    They can try to squirm and delay reckoning, but it can only last so long. Governments can't create real wealth.
    6 Apr 2013, 08:40 PM Reply Like
  • june1234
    , contributor
    Comments (4406) | Send Message
     
    They keep calling these deals bailouts when the only people being bailed out are the banks
    7 Apr 2013, 08:12 AM Reply Like
  • WhispersofWisdom
    , contributor
    Comments (89) | Send Message
     
    What does the Eurozone need? A central bank that can print money; a central elected government that can tax and actually collect same, redeem debt or purchase debt. 17 cooks are doomed to spoil the broth. The experiment will fail without the above. No one wants to pay $1.30 for $.25 Cyprus had banking and tourism...now they have tourism at a very high cost. Portugal is next now. At least 7 countries are in deep trouble. The Euro countries that leave can start over with a devaluation of their old currency. Either that, or there must be a United States of Europe. : )
    7 Apr 2013, 10:44 PM Reply Like
  • anonymous#12
    , contributor
    Comments (545) | Send Message
     
    Austerity doesn't works. Spain is a perfect example of what happens when austerity is implemented on the workers.
    8 Apr 2013, 02:05 AM Reply Like
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