"The risk is high because we are not only facing a national or country problem. It is the problems of Greece, Portugal, and Ireland. Markets look at these economies because we are all in this together in the eurozone. Suppose we were not in the eurozone, the risk of contagion could be lower," he told the Financial Times.
Mr Teixeira made a thinly veiled attack on Germany's Angela Merkel and France's Nicolas Sarkozy, who precipitated the latest crisis by opening the door to sovereign defaults and bondholder "haircuts" for eurozone states in trouble.
"We were like the soccer player running to the goal and ready to kick for the goal, and then someone fouls us, but this time there was no penalty."
A simultaneous bail-out for both Ireland and Portugal might run to €200bn, depleting much of the EU rescue line. The European Financial Stability Facility (EFSF) can raise up to €440bn on the bond markets but only two thirds of this would be available. The IMF is expected to loan a further €3 for every €8 from the EU under the bail-out formula.
COM DÉFICE ANUAL PERSISTENTE,COM O AUMENTO DE POBRES ÁS CENTENAS DE MILHAR IMPORTADOS E NACIONALIZADOS A VIVER POR CONTA, A MAIORIA SOCIOLÓGICA DE ESQUERDA, DELAPIDADA A PESADA HERANÇA,LIQUIDADA A "PRODUÇÃO", VAI TER QUE PROVAR A SUA SUPERIOR GOVERNAÇÃO...
MAS AO VER TANTA MALTA A ROUBAR JULGO QUE NINGUÉM ACREDITA EM MILAGRES...
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