Monday 19 March 2018

Events in Portugal prove troika is not infallible

PORTUGAL'S prospects of exiting its EU/IMF bailout are unravelling by the hour. It is a salutary lesson, not least here, where an exit from our own bailout is increasingly regarded almost as a given. It should not be.

The speed of the meltdown in Portugal is remarkable.

The markets were caught utterly unawares, sending investors to their phones and computer terminals yesterday in a desperate effort to sell Portuguese stocks and bonds before prices fall any further.

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