USA TODAY: Portugal‘s financial agony deepened Friday, threatening to pitch Europe into a new round of economic turmoil over its debt crisis…
As Portugal — one of the smallest and frailest in the 17-nation eurozone — runs out of options, its leaders are pressing fellow European nations to adopt new crisis management measures at a summit next month, ahead of a euro4.5 billion ($6.13 billion) debt repayment that falls due for Portugal in April.
Yet the broad consensus in markets is that Portugal is doomed to become the third member of Europe’s bailout club, after Greece and Ireland, partly because the continent’s paymaster Germany doesn’t want the issue to fester much longer… (more)
