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Our political turmoil in Portugal -- not just watching Egypt Portugal after the resignations of two key government ministers -- European mark.
So the big question many investors are asking -- could Portugal reignite the Euro crisis and what Liz MacDonald does that mean it's for their investments.
Yeah that's exactly right good agreement -- listen David we're tracking reaction on Wall Street.
To what is happening in Portugal attracting comments from JPMorgan Chase Commerzbank Societe Generale.
And BNP Paribas they have all said that essentially what is happening in Portugal.
And Greece and Cyprus those countries are the leading edge of the problems in the Euro zone and so what they're worried about is the spill -- effect.
There's a lot of talk about whether or not Spain and Italy.
We'll have basically is boring re enter crisis stage now here's what the bottom line is the IMF has already warning that their art risks ahead.
But all of these banks are saying this is -- problem this is the issue whether or not there is austerity fatigue in these countries in other words.
Will these countries be able to dial back on their spending cuts and dial back on their tax hikes.
And what these banks are saying get -- they're saying no -- because it IMF.
And the ECB the trigger is as it's called -- the three of them are hanging tough.
There essentially saying to Cyprus and Greece you have to continue with Gary -- or you will not get bailout money.
So that can be expected deal also happened in Portugal Portugal is trading at junk status it does have junk bond -- status.
At the rating agencies.
What's striking here is that it started out this month -- just six point 4% and you saw the bond -- is coming in big time but that ten year rate.
The yield spiking north of 8% so rocky bumpy ride but -- Basically the EU ministers are heading into this in Portugal you got to pull through does that -- you guys.
Has been --
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