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Wednesday, November 24, 2010

Didn't Ireland Make The Same Claim

In further PIIGS news, Spain and Portugal are insisting that they don't need bailouts. Really. Not them. Not at all.

"Spain is doing everything it has promised to do, with tangible results." That's the word from Elena Salgado, the Spanish finance minister. José Socrates, the Prime Minister of Portugal, says "Portugal doesn't need anyone's help and will solve its own problems."

As I recall, Ireland loudly said the same thing for weeks. Anyone else think history will repeat itself?

"Spain and Portugal reject talk of bail-outs" (http://www.cnn.com/2010/BUSINESS/11/23/portugal.spain.bailout.ft/index.html)

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