Greece, not again?

[admin]

The Portuguese are close to unique, in both having very high debts, and most of it being owned abroad. Nor does it just end there. Once household and corporate debt is added into the equation, Portugal has more debt in total than any other eurozone country, Greece included (which mainly has government debt to deal with).

Forget Greece, Portugal is the eurozone’s next crisis - MarketWatch

All the evidence suggests that, once the debt-to-GDP ratio climbs into the 130% bracket and above, it is basically unsustainable. A country has to grow at 3%-plus simply to keep its debts at the same level — and there is absolutely nothing to suggest Portugal can achieve that or anything like it.

Forget Greece, Portugal is the eurozone’s next crisis - MarketWatch

The Fund's standard modus operandi is a tried and tested pincer movement – structural reforms and austerity on the one hand, debt forgiveness and currency devaluation on the other. But the Greek programme was all stick and scant carrot. The IMF has found itself trapped in the middle, attempting to extract sustainable reforms from Greece while urging its creditors towards some form of debt relief.

Blame game might be Greece's last best chance of staying in the euro - Telegraph