Thursday, March 24, 2011

Report: Portugal Bailout may be between 50 billion and 70 billion euros

by Calculated Risk on 3/24/2011 10:39:00 AM

From Bloomberg: Portugal Said to Need as Much as $99 Billion in Bailout

A bailout for Portugal may total as much as 70 billion euros ($99 billion), said two European officials with direct knowledge of the matter.

A financial lifeline would be between 50 billion euros and 70 billion euros ... Portugal has not yet asked for a bailout.
It appears a bailout is inevitable and imminent. Here are the 2 year (6.7%), 5 year (8.2%) and 10 year (7.7%) yields on Portuguese government debt - all at new highs.

Watch Ireland too - the Irish ten year yield is near 10%.