Now Portugal needs a loan

[TheRedDevils]

Just on the news Portugal is asking the eu for help with a loan. Will Cameron be one of the first to other help.Have we any money left.

http://news.sky.com/s...uropean_Union_Bailout

[Buenchico]

It might make good commercial sense for the UK to lend money to Portugal.

The UK is currently borrowing money at 2% and lending it to Ireland at 5.6%. We will probably do something similar for Portugal.

[craft1948]

Was this the agreement that Darling signed us up to, after Labour had lost the election?

[birdie1971]

Nigel Farage MEP predicted this on 24th November 2010

http://www.youtube.com/watch?v=Fyq7WRr_GPg

[TheRedDevils]

Not many people applauded when he finished his speech.

[TheRedDevils]

Just noticed i have put other should be offer.

[birdie1971]

TheRedDevils : “Not many people applauded when he finished his speech...”

Hmmm... I can't think why...

[trt]

I think we give to much money to 3rd world country's, what do they give us, except problems with immigration and sponging benefits etc etc?

[jno]

lending isn't the same as giving, you know. I agree with Chris.

[boxtops]

Portugal's hardly a third world country, too.

[scotman]

Borrowing to lend on at higher rate is fine as long as you get the money back. If ireland, Portugal, Greece etc begin defaulting we are out of pocket.

[whiskeryron]

http://johannhari.com...e-in-british-politics

[Davethedog]

http://www.johannhari...e-in-british-politics

Disregard what it says about cuts, thats a matter of choice.

[OrdsallSi]

6 Oct 2010 ... The Conservatives' slogan "We're all in this together" is "not a cry for help, but a call to arms"

The Tory toffs and the Cleggites say we will all suffer for a while then just watch just before the next general election we can have some tax cuts.

The NHS is safe in there hands only a nutter would trust mad dog cameron.

[Davethedog]

Ron - Sorry was looking for the address when you posted but SNAP :-)

[Bobbisox]

Tsk!!!!
I hope the prices over there don't rocket, we go there in June
Pah!!

[dr b]

EU country banks own more than 40 billion euros worth of Portugal's sovereign debt. So EU countries are loaning Portugal money to pay back their own countries' banks. If Portugal were to default, bank capital would take a fairly sizable hit. (If Italy or Spain were to go, German banks in particular would get hammered.) It is a bank bailout under another name.

[Red_John]

gearing is fine. Next question please.