Roubini sees Portugal bailout, possibly Spain as well

[Joanne98]

Source: Reuters

Reuters) - Portugal will take an international bailout and Spain may be next as Madrid has underestimated the cost of cleaning up Spain's financial system, economist Nouriel Roubini said on Monday.

Greece will eventually have to restructure its debt and a weak growth outlook will prompt central banks, including the European Central Bank, to ease policy further, said Roubini, who is known as Dr. Doom for predicting the credit crisis before 2007. He also warned on Monday that there was still the risk of a double-dip recession in the United States.

Bond markets have piled pressure on Portugal as the euro zone country most likely to need a bailout after Ireland, even though Lisbon has finished its debt issuance for this year.

"(A bailout) happened in Greece. It happened in Ireland, and it's going to happen in Portugal," Roubini told a conference in the Czech capital.



Read more: http://www.reuters.com/article/idUSTRE6AS1MK20101129

[Starry Messenger]

1. Of course it is happening.

Ireland did a fair amount of denial to save face, I guess this is the pattern.

[galileoreloaded]

2. Spain is GONE.....

and the ECB with it.

[Bigmack]

3. What effect will the fall of Spain...

have on us... me and mine?

What will the fall of the Euro have to do with us?

When I was young, I cared about the world. Now that the greedheads rule everywhere, I'm concerned about survival.