Thursday, March 3, 2011

The 7% Crisis Hits Portugal

While most focus is on the uprisings in the Middle East, problems continue to brew in the euro sector with the PIIGS.

It appears that Portugal will be the latest of the PIIGS to face a funding crisis. The interest rate on Portugal's 10-year debt has been above 7% for 19 days now. Both Greece and Ireland buckled to global banksters after their funding costs climbed above that level.

James Mackintosh, investment editor at FT, provides an informative overview in this video clip of the situation.

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