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Portugal braces for govt collapse amid debt crisis

Discussion in 'Political Discussion' started by Real World, Mar 22, 2011.

  1. Real World

    Real World Moderator Staff Member

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    YouTube - Queen - 'Another One Bites the Dust'



    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.
  2. PatriotsReign

    PatriotsReign On the Roster

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    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.
    Last edited: Mar 22, 2011
  3. Gainzo

    Gainzo Rookie

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    #11 Jersey

    Who cares?
  4. Real World

    Real World Moderator Staff Member

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    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. :D
  5. Gainzo

    Gainzo Rookie

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    Portugal is half the size of Australia for goodness sakes. Australia, like New Zealand, always sends troops when the USA goes to "war"
  6. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Where Portugal is now financially is where the USA is headed unless we change our policies.
  7. The Brandon Five

    The Brandon Five Rookie

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    The PIGS (Portugal, Ireland, Greece and Spain) are the canaries in the western coal mine.
  8. The Brandon Five

    The Brandon Five Rookie

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    Looks like they're not alone:

    US Approaching Insolvency, Fix To Be 'Painful': Fisher

    Last edited: Mar 22, 2011
  9. Real World

    Real World Moderator Staff Member

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    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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