Portugal Is Nigeria
While Portuguese Prime Minister Coelho exclaims "You can count on me," in
tonight's TV address, it seems the market is not so sure. In fact things are so
bad that Nigeria, that bastion of western capitalism and stability, has just
issued 5Y and 10Y bonds at yields in line with Portugal's. With news breaking
that the opposition party is calling for new elections in
Portugal, we suspect Nigeria will be out soon with a dismissal
noting that "Nigeria is not Portugal".
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