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.