
The Portuguese State Budget for 2011 
was approved in Parliament 
on Friday, 26th November.
With an ENORMOUS public foreign debt, 
and interest rates on states bonds at over 7%, 
the country faces a financial 
and economic melt-down.
The socialist government of 
Mr. Socrates, 
and his Finance Minister, 
Teixeira dos Santos, 
have doubled-over 
in their international propaganda campaign, 
claiming that Portugal 
will NOT need any external help 
out of this deadly spiral 
in which the country 
is fighting for survival.
But the ticking time-bomb 
of the socialist government's 
extreme spending spree, 
will explode in 2014, 
when all the PPP's 
(Public-private partnerships) 
will become due for payment.
The default is expected to be 
over 1,361,9 million Euros. 
A ticking TIME-BOMB for any future government.
 
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