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I read that article and I was thinking, what would it really cost them to keep Portugal around. Would it really be that much of a hardship? I don't think so.

There are other reasons to keep Portugal around as well. In addition to its public debt to GDP, it has approximately 130% private debt. if you squeeze the Portuguese too much, some banks in Europe will surely feel it, unlike in Greece where the debt is mostly public and by now written off from many banks and also owned by the ECB.

by Upstate NY on Tue Feb 14th, 2012 at 12:16:40 PM EST
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