A daily blog on the thrills, spills, and frequent absurdities of the world's one and only 'non-imperial empire' - as Barroso himself called it - the European Union.

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Wednesday, 6 April 2011

Portugal admits it needs a bailout

My apologies for the lack of blog updates - I'm working on a blog update about the Libyan civil war, and there is relatively little information. So, I'll just refer you to Portugal's admission that it needs an EU bailout:


Spain has a high level of exposure to Portuguese banks, so it will probably also need a bailout. And then the bailout fund has run dry.

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