Portugal becomes third Eurozone country to require bailout

[-:Undertaker:-]

http://www.dailymail.co.uk/news/arti...nd-Greece.html

http://www.express.co.uk/posts/view/...escue-Portugal

Families face £160 bill to bail out Portugal as it becomes third country forced to go to EU for help

British taxpayers could be forced to pay more than £4billion to bail out debt-ridden Portugal. Every household in the UK faces a bill of around £160 after it became the third eurozone country to need a bailout. Critics branded the situation ‘grotesque and unfair’ at a time of public spending cuts. The rescue of Portugal follows last year’s bailouts of Greece and Ireland and looks set to include about £4billion from Britain.

Jackpot: Portugese Prime Minister announces bailout

Taxpayers face the expense because of a deal struck by then Chancellor Alistair Darling shortly after Labour lost last year’s general election. His successor George Osborne insists he objected to the deal, which committed Britain to a £50billion EU bailout scheme. After a month of talks with the EU and IMF, Portugal has agreed to a £70billion rescue package. Portuguese prime minister Jose Socrates said there would be no civil service cuts, no changes to job and welfare entitlements and no cut in the minimum wage. The leader, who resigned in March but remains in office until elections early next month, did not even disclose the size of the bailout during his appearance. He said: 'The government has obtained a good deal. This is a deal that defends Portugal.'

Wow, despite all the mocking back in 2009/10 on this forum - turns out Nigel Farage was spot on as he usually is just as with Belgium. I just wonder if Labour, the Liberal Democrats or the Tories could have predicted the demise of the disasterous Euro just as good - oh no wait! they were campaigning for us to surrnder our monetary independence and join the Euro along with top Tories who had a leader who refused to rule out joining the single currency!

Mr Osborne is also being fundementally dishonest about this as Mr Darling recent pointed out that he consulted Osborne during the General Election and the pair of them agreed to this, bear in mind they are supposed to be 'against' one another. Do remember, no government can bind its successor.

Ah well, don't let the truth get in the way of the tribal voting today, enjoy the bill.

Thoughts? should Britain contribute to the bailout? wish you had a conservative government in office?

[JerseySafety]

No-one has replied but; I don't think britain should have to bail out Portugal.

Like seriously; I mean if it was to be USA bailing out Canada [example] then yes, maybe, but why Portugal?

Stuff paying that amount of money to help another country, when most people these days are struggling.

[AgnesIO]

No-one has replied but; I don't think britain should have to bail out Portugal.

Like seriously; I mean if it was to be USA bailing out Canada [example] then yes, maybe, but why Portugal?

Stuff paying that amount of money to help another country, when most people these days are struggling.

Because we are both in Europe.

[Accipiter]

Surely other countries are paying a bailout towards Portugal not just the UK?

[Conservative,]

Because we are both in Europe.

It has no significance to us. We are not in the euro. Why should we help? If Portugal goes down it won't effect us (economically). We're just wasting our money.

Surely other countries are paying a bailout towards Portugal not just the UK?

Yes they are, but we shouldn't be giving any money at all.

[GommeInc]

It has no significance to us. We are not in the euro. Why should we help? If Portugal goes down it won't effect us (economically). We're just wasting our money.

It will, but only because the EU will make us suffer alongside Portugal

I think countries who have that useless currency should be bailing Portugal out. It's not Britain's fault the useless Euro is struggling again, and the the EU keeps asking countries for money when they're strapped for cash as it is.

[Oleh]

I don't see why the government don't grow some balls and say no for once.

[ifuseekamy]

No-one has replied but; I don't think britain should have to bail out Portugal.

Like seriously; I mean if it was to be USA bailing out Canada [example] then yes, maybe, but why Portugal?

Stuff paying that amount of money to help another country, when most people these days are struggling.

I believe Scotland has plans to adopt the euro. We should probably start saving up bailout now.

[Chippiewill]

Eurgh, there seems to be a pattern going on here. And it seems that as more countries are bailed more and more countries will need bailing until there's only a few paying countries left in the EU.

[Fez]

Eurgh, there seems to be a pattern going on here. And it seems that as more countries are bailed more and more countries will need bailing until there's only a few paying countries left in the EU.

Won't be long until we're not one of them.