So Portugal have become the latest region to move from sovereign state to component of a Federal Europe by asking for a bail-out.
No doubt we'll have to put our hands in our pockets to support them. I feel for the Portuguese people. They are our oldest allies.
Actually, I don't feel for them at all. They have demanded that they continue the lifestyle that has proven so unsustainable and so they see their country's independence sold for 70 billion pieces of silver. We may have gone wading in during the peninsula war, but in the end it looks like Portugal will become a part of a super-European state after all. What a good job that France isn't governed by a touchy, short-tempered short arse anymore.
Oh. . .
It isn't all bad news, as this brings the gaze firmly onto Spain's economy as people run from one burning house to the next in an attempt to safeguard their cash. I just don't see how Europe will be able to afford a bail out for Spain, and the request will come. If they say no, then all bets are off. If they say yes then watch the German financiers have a fit to end all fits.
Interesting times. . .