Ewald Nowotny Wants Portugal Bailout

The Austrian member of the European Central Bank, Ewald Nowotny, has spoken out about the situation in Portugal, and says that he recommends it.

Over the weekend, Nowotny said:

From a purely economic point of view one could probably recommend it. The domestic political situation in Portugal has clearly worsened … the head of the government has stepped down

This joins the pressure on the European Union coming from Ireland. A minister in the new Irish government drew the default, or burden sharing weapon. No senior bondholder is safe.

Read more about how Irish Banks are getting closer to a default.

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile

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