Portugals redningspakke kan koste mellom 50 og 70 milliarder euro, ifølge EU.

Denne kjappe posten fra Calculated Risk får meg til å tenke på at hvert budsjett en regjering legger fram har retroaktiv betydning. Markedene tror ikke Irland, Hellas eller nå Portugal har den byråkratiske evnen til å takle komplekse statsfinanser. Så hva de har gjort før legger grunnlaget for renten de må betale i markedet idag:

Report: Portugal Bailout may be between 50 billion and 70 billion euros: «From Bloomberg: Portugal Said to Need as Much as $99 Billion in Bailout

A bailout for Portugal may total as much as 70 billion euros ($99 billion), said two European officials with direct knowledge of the matter.

A financial lifeline would be between 50 billion euros and 70 billion euros … Portugal has not yet asked for a bailout.

It appears a bailout is inevitable and imminent. Here are the 2 year (6.7%), 5 year (8.2%) and 10 year (7.7%) yields on Portuguese government debt – all at new highs.

Watch Ireland too – the Irish ten year yield is near 10%.

(Via Calculated Risk.)

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