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News Link • Economy - International

Portugal Advised to Beg


Portugal should pass the hat among former colonies ... So it turns out that fiscally challenged Portugal has another option besides an onerous bailout from its euro-zone partners, once the government decides it can no longer live with the crippling premiums being demanded in the bond market to cover its external financing needs. The lifeline is being extended by Brazil, its one-time colony, which has emerged as a global economic and financial force– even as Portugal slowly sinks in a fiscal quicksand of its own making. Lisbon, whose caretaker government is merely treading water until an expected summer election, has to roll over close to €10-billion in debt between April and June. "Yes, Brazil could help Portugal, just as Portugal helped Brazil economically," Brazilian President Dilma Rousseff declared during an official visit to the European country. – Canada Globe and Mail

Dominant Social Theme: There is a solution to every economic crisis, even PIGish over-spending. Friends help friends, after all, and nations help nations. Heck, the colonial era wasn't so bad after all. Portugal was fairly sweet to its colonies, wasn't it? We kinda miss those days. Let's throw tens of billions their way.


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