The PJ Tatler

Our Portuguese correspondent

Prize-winning PJM writer Sarah Hoyt sends this from the European press (bracketed comments hers.)

From Interest on Portuguese debt hits new highs. Moody’s cut on Portuguese debt rating has dragged the Euro’s peripheral (costs?) to new highs in secondary markets. Interest on Portuguese three-year bonds surpasses 19% Also,New IMF chief praises Portugal’s brave decisions [are those like gutsy calls? ed. note] In her first press conference as director general of the IMF Christine Lagarde stated Greece must be follow the example of “the brave decisions made by Portuguese political parties.” And Meanwhile: According to studies by the Catholic University of Portugal, Portuguese economy will shrink 1.7 percent this year and 1.5 percent in 2012 [#gutsycall]

Switzerland seen from Portugal sounds a lot like Obama’s mind: new Swiss party [non-cryptically named the Anti Power Point Party] wants to eliminate power point to increase productivity. [next up, ATMs.]

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