Portuguese debt looms over Europe

What are the prospect of a default by Portugal in its sovereign debt crisis? Author says that the brutal truth is that financial markets are pricing in a Portuguese default at some point in the next five years.

ESO: Background information: Portugal condemns ‘inconsistent’ S&P downgrade http://www.europeansources.info/record/portugal-condemns-inconsistent-sp-downgrade/

EUObserver, 10.2.12: Germany promises Portugal 'programme adjustment' after Greece http://euobserver.com/19/115216

Público, 19.3.12: Emigration – a beautiful mirage (via PressEurop) http://www.presseurop.eu/en/content/article/1654601-emigration-beautiful-mirage

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