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2012-03-23

Två åsikter om Portugal

The troika's bailout package is expected to keep the country going until September 2013 or so.
That gives Portugal about one-and-a-half years to win back the financial markets' trust and wrestle interest rates on its government bonds back down to a level where the country can once again finance itself on the markets.

Experts believe success is absolutely possible.

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El-Erian, also co-chief investment officer of PIMCO, said he expected Portugal's first bail-out package will be insufficient, prompting it to ask the EU and IMF for more money.

"Then there will be a big debate about how to split the burden between the EU, creditors, the IMF and the European Central Bank.

And then financial markets will become nervous because they are worried about private sector participation,"

Portugal

Ms Merkel’s scepticism also stems from bitter experience.
She followed investors’ advice and called for private holders of Greek bonds to share the burden of a second bail-out for Greece.
 
Those who have spoken to the chancellor say she feels duped by those investors, who urged her to agree to a restructuring of Greece’s massive debt burden
but then told the chancellor that she had also made all other eurozone bonds suspect.

Financial Times, 4 December 2011

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