10 February 2012

PORTUGAL / EUROZONE : Despite Athens...Lisboa Still Has Berlin's Goodwill.


        With Portugal's 10-year bond yields around 13.4 %...Lisboa is not out of the woods...even as Greece self-destructs.
REUT: "Lisbon enjoys political support that Athens can only dream of. Eurozone leaders seem determined that the slow-motion crash that is Greece will be a one-off..."
       "I'm not saying Portugal is safe. They're not safe," said an investment banker. "Having said that, the goodwill is there. It's not a done deal, but it's almost certain that Portugal will get a second bailout."
     "In contrast to the political squabbling and backsliding in Athens that is frustrating the EU, Portugal is governed by a coalition that was elected by voters fully aware that they would face years of austerity and structural reforms to improve Portugal's dismal competitiveness and productivity."