• €70 billion (or more) needed to help bail out Portugal source

• » Coming today — the request: Portugal’s current caretaker government plans to solicit the European Union for bailout money today. However, the fact that it is a caretaker government complicates things, because some argue that they may not have the proper authority to take on such a task. To put this in perspective, Ireland’s outgoing government made a similar bailout request, only to have to the new government ask for changes after they got into office — something that the people handing out the money didn’t like. Gift horse, mouth, all that stuff.

Posted by Ernie Smith • Permalink