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[Nickbat]

The eurosceptic and UKIP-allied "True Finns" party has made massive gains in the Finnish elections and could, theoretically, scupper the Portuguese bail-out plans.

This could be a significant political moment.

http://conservativehome.blogs.com/international/2011/04/anti-bailout-party-allied-to-ukip-may-finish-first-in-finnish-election.html

   

[albitz]

I do hope so.

[Varche]

Can't see it happening, nice though it would be. It would be great for the euro to be devalued (or the peseta etc resurected) against the pound for any Brits living here in Euroland especially any OAPs.

I still can't see the problem with bailouts  so long as they pay it back . It makes good business sense. Britain borrows say £10billion over 5 years at 3.7% and lends Portugal £4 billion at 6.7% (or whatever the figs are). Free money. Hard to come by nowadays (unless you are a freking banker of course).

[Nickbat]

Can't see it happening, nice though it would be. It would be great for the euro to be devalued (or the peseta etc resurected) against the pound for any Brits living here in Euroland especially any OAPs.

I still can't see the problem with bailouts  so long as they pay it back . It makes good business sense. Britain borrows say £10billion over 5 years at 3.7% and lends Portugal £4 billion at 6.7% (or whatever the figs are). Free money. Hard to come by nowadays (unless you are a freking banker of course).

As you imply, how sure can one be that they'll be able to repay it, Varche?

The Greeks are having a tough time amidst talk of debt restructuring. 

[Nickbat]

After replying, I read this, Varche!

http://blogs.telegraph.co.uk/news/danielhannan/100084220/ten-reasons-why-britain-shouldnt-join-the-portuguese-bailout/

 

[Varche]

After replying, I read this, Varche!

http://blogs.telegraph.co.uk/news/danielhannan/100084220/ten-reasons-why-britain-shouldnt-join-the-portuguese-bailout/

 

That makes interesting reading. I heard Alistair D saying that the "deal" was well documented in treasury notes which I believe Osborne saw at the time.

I should have added that in our loan small print "if you default then we will have your national railway * system as settlement" 

* or whatever else we took a shine to. (Port industry?)

My own personal view is that the current so called recovery is still a very fragile paper thin affair and it won't take much to plunge us all into a proper crisis