Portugal's debt spreads have widened to a point where it's time to bite the bullet and accept an EU/IMF aid package.
There will be a crisis meeting in Lisbon on Tuesday that will force Portugal to accept aid...in order to make it to stop spreading to Spain, Italy and Belgium..
But then I stand back and think...
Wasn't the Greek bailout supposed to protect Ireland?
...and wasnt the Ireland bailout supposed to protect Portugal?
Europe is seriously bereft of any strategem.. in fact they are lost at sea.
Would not buy the EUR even if you gave it to me at parity.
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