Portugal's Prime minister, José Sócrates, said in a televised address to the nation on Wednesday night that the Portuguese government will ask for an international bail-out.
“The government decided today to ask the European Commission for financial help,” Socrates said.
“I tried everything, but in conscience we have reached a moment when not taking this decision would imply risks that the country should not take,” he said.
Translation:The banksters win again.
The clear alternative would have been to default on the debt and let the banksters and others holding the debt suffer the losses. Instead, economic hit men will roam the country imposing "austerity" by squeezing every penny they can out of the people of Portugal, so that the banksters are paid in full (with interest).
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