PORTUGAL: Bonds Downgraded, Prepares For Stagnant Times; Looking To Angola For Growth.

NYT/ RAPHAEL MINDER /     Moody's just lowered Portugal's bond rating by 2 notches....to A1. Not yet junk but it will cost the nation more to raise cash. Now, under severe economic stress, Portugal is looking for growth from its former colony, oil and diamond rich Angola. But the Chinese are also very interested in Angola.
   “Clearly, we share the same language and have much more in common with Angolans than the Chinese and others, but Portuguese investors also need to make huge efforts not to be seen as pushing for a return to colonial times,” said consultant António Cunha Vaz. “Little can be achieved in Angola without full help and cooperation from local partners.”