Portugal goes cap in hand

[Waldorf]

Portugal has finally admitted it needs help to get out of the mess it is in from overspending....

I heard that the UK will cough up £3billion - another legacy from the dying days of Brown's government

Alistair Darling agreed to the UK contributing to this bail out fund, days before the election.

I wonder who will be next, Spain?, Italy? Belgium?

It all sounds awful for the Euro

[VectraMan]

Alistair Darling agreed to the UK contributing to this bail out fund, days before the election.

It was days after the election IIRC.

[Doggy Styles]

It was days after the election IIRC.

I think you're right. Darling/Brown did it the weekend after the election before the coallition took over.

A sort of parting gift.

[Mich the Tester]

Meanwhile in Lisbon, the sun is shining and nobody really gives a tulip.

[doodab]

Portugal has finally admitted it needs help to get out of the mess it is in from overspending....

I heard that the UK will cough up £3billion - another legacy from the dying days of Brown's government

Alistair Darling agreed to the UK contributing to this bail out fund, days before the election.

I wonder who will be next, Spain?, Italy? Belgium?

It all sounds awful for the Euro

It sounds bad if you only look at a fraction of the eurozone. If we look selectively at a few high unemployment areas of Britain, say the North East, the North West and Yorkshire, things start to look pretty grim for the pound as well. Lest we forget, Britain's welfare claimants are subbed to the tune of £192 billion, and that isn't in the form of a loan that pays interest.

[Mich the Tester]

It sounds bad if you only look at a fraction of the eurozone. If we look selectively at a few high unemployment areas of Britain, say the North East, the North West and Yorkshire, things start to look pretty grim for the pound as well. Lest we forget, Britain's welfare claimants are subbed to the tune of £192 billion, and that isn't in the form of a loan that pays interest.

...and the weather's no good oop north.

[OwlHoot]

Last time we were expected to pay billions extra in tax, largely to bail out a foreign country, there was a revolt.

That was when the King's regent John, Duke of Lancaster persuaded the King to introduce a new poll tax, mainly to finance John's occupation of Castile (after his wars in France had got nowhere).

OH in "When Adam delved and Eve span, who was then the gentleman? " mode

[doodab]

...and the weather's no good oop north.

That would explain why they always look so cheerful when I see them on the telly.

[doodab]

Last time we were expected to pay billions extra in tax, largely to bail out a foreign country, there was a revolt.

We are borrowing gazillions anyway, and lending them a bit of it at a profit, which actually means people will pay less tax.

The British media / education system / drinking culture really has scrambled peoples minds hasn't it.

[TimberWolf]

There's big money to be made in money lending. What's the interest rate?

If it's a higher rate than we pay on our debt, then boomed?