counter_violent
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Another Socco Fiasco
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Atilla
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I think Matthew Price's assessment is a fair one.
Matthew Price Europe correspondent, BBC News
First Greece, then Ireland, now Portugal. But unlike the previous two bail-outs, this one does not seem to have provoked panic - either in the corridors of power here, nor on the markets.
The EU's top economic official Olli Rehn called the Portuguese decision a "responsible move". The President of the European Commission Jose Manuel Barroso - himself Portugese - said the request would be processed as quickly as possible.
A team could be dispatched to Portugal in the coming days.
EU finance ministers hold a scheduled meeting in Hungary at the end of the week. Portugal will be top of the agenda.
The European Commission and the European Central Bank are both expected to be involved in the bail-out funding. The International Monetary Fund says it stands ready to help as well.
There is also the fact that when you start playing around with big numbers - the mind becomes numbed to it all. Was that an extra zero you say? No. Two more zeros? Ok no probs. Two more zeros it is then, that makes 12 altogether... :smart: Yep got it !
Trying to put it in balance most people had/have mortgages 3-6 times their annual income. So national debt of 50-150% of GDP seems no big deal really.
I'm surprised I've changed my personal perspective as at first I too thought - hey wait a minute or two. :-0. Now it is more a case of - no worries, it will turn out ok. Be happy!
