Soviet-EUnion

EU and the credibility gap: 6 hours after a commissioner and the ECB president boasted to the press that "Portugal is in no need of financial aid," the country submitted an official request to the EU for a bail-out tonight, requesting between $115 - 130 Billion. With Spain, Belgium and Italy looming later, one wonders how long paymaster Germany will permit the perpetual squandering of European taxpayers' funds.

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