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Portugal braces for govt collapse amid debt crisis
Portugal braces for minority government's collapse amid discord over austerity debt crisis
Tuesday March 22, 2011, 7:37 am EDT
LISBON, Portugal (AP) -- The leader of Portugal's main opposition party says the minority government's downfall is "inevitable" after it failed to win political support for its latest plan to cut the country's huge debt burden.
Portugal is trying to avoid becoming the latest of the 17 eurozone countries to need a bailout, following financial aid for Greece and Ireland last year.
But all opposition parties have balked at the Socialist government's new austerity measures, which are expected to be rejected by Parliament even though European leaders praised them.
Pedro Passos Coelho, leader of the main opposition Social Democratic Party, said late Monday that the political deadlock made an early election unavoidable.
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Portugal braces for govt collapse amid debt crisis
Portugal braces for minority government's collapse amid discord over austerity debt crisis
Tuesday March 22, 2011, 7:37 am EDT
LISBON, Portugal (AP) -- The leader of Portugal's main opposition party says the minority government's downfall is "inevitable" after it failed to win political support for its latest plan to cut the country's huge debt burden.
Portugal is trying to avoid becoming the latest of the 17 eurozone countries to need a bailout, following financial aid for Greece and Ireland last year.
But all opposition parties have balked at the Socialist government's new austerity measures, which are expected to be rejected by Parliament even though European leaders praised them.
Pedro Passos Coelho, leader of the main opposition Social Democratic Party, said late Monday that the political deadlock made an early election unavoidable.
I'm just hoping that our gov't hasn't and won't spend one dime helping bail out any of these countries. We should all take a long look at why so many European countries are on the verge of collapse and STOP comparing anything American to European countries (like health care).
The fact is, they can't afford their own programs and now they have to take action...and it won't be RAISE TAXES, I'll guarantee you that.
No human wants to give half of what they earn to support their gov't. And if we're talking about middle class people, we don't even want to come close to paying half our earnings in taxes. No matter how one looks isn't a logical argument against that last statement.
None of have a goal of supporting gov't when we take a job. We all realize that we have to help support our gov't, but it isn't a major reason to earn a living. We work for ourselves and our families.
__________________ "No one walking this earth knows what is truly righteous"
Last edited by PatriotsReign; 03-22-2011 at 03:06 PM..
Portugal braces for govt collapse amid debt crisis
Portugal braces for minority government's collapse amid discord over austerity debt crisis
Tuesday March 22, 2011, 7:37 am EDT
LISBON, Portugal (AP) -- The leader of Portugal's main opposition party says the minority government's downfall is "inevitable" after it failed to win political support for its latest plan to cut the country's huge debt burden.
Portugal is trying to avoid becoming the latest of the 17 eurozone countries to need a bailout, following financial aid for Greece and Ireland last year.
But all opposition parties have balked at the Socialist government's new austerity measures, which are expected to be rejected by Parliament even though European leaders praised them.
Pedro Passos Coelho, leader of the main opposition Social Democratic Party, said late Monday that the political deadlock made an early election unavoidable.
Re: Portugal braces for govt collapse amid debt crisis
Quote:
Originally Posted by Gainzo
Who cares?
I guess the first answer to your question would be that if you don't, then you shouldn't be posting in here. The second, and probably more pertinent answer would be that I do.
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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him." Leo Tolstoy, 1897
Re: Portugal braces for govt collapse amid debt crisis
Quote:
Originally Posted by Real World
I guess the first answer to your question would be that if you don't, then you shouldn't be posting in here. The second, and probably more pertinent answer would be that I do.
Portugal is half the size of Australia for goodness sakes. Australia, like New Zealand, always sends troops when the USA goes to "war"
Re: Portugal braces for govt collapse amid debt crisis
Where Portugal is now financially is where the USA is headed unless we change our policies.
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"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."
The United States is on a fiscal path towards insolvency and policymakers are at a "tipping point," a Federal Reserve official said on Tuesday.
"If we continue down on the path on which the fiscal authorities put us, we will become insolvent, the question is when," Dallas Federal Reserve Bank President Richard Fisher said in a question and answer session after delivering a speech at the University of Frankfurt. "The short-term negotiations are very important, I look at this as a tipping point."
\But he added he was confident in the Americans' ability to take the right decisions and said the country would avoid insolvency.
"I think we are at the beginning of the process and it's going to be very painful," he added.
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Quote:
"People say, 'What will you do if you don't play football?' Why would I even think of doing anything else? What would I do instead of run out in front of 80,000 people and command 52 guys and be around guys I consider brothers and be one of the real gladiators? Why would I ever want to do anything else? It's so hard to think of anything that would match what I do: Fly to the moon? Jump out of planes? Bungee-jump off cliffs? None of that s--- matters to me. I want to play this game I love, be with my wife and son, and enjoy life." - Tom Brady
Last edited by The Brandon Five; 03-22-2011 at 06:11 PM..
Re: Portugal braces for govt collapse amid debt crisis
We care because a lot of western nation welfare states are going belly up, and fast. These countries, all of whom carry massive debt from and oversized government, are going insolvent, which doesn't bode well for us. Not when you look at our books, and not when you consider what crumbling western economies mean to a global economic recovery.
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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him." Leo Tolstoy, 1897
Portugal braces for govt collapse amid debt crisis
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