Euro under siege as now Portugal hits panic button

Monday, November 15, 2010
By Paul Martin

By Bruno Waterfield and Robert Winnett
MontrealGazete.com
November 15, 2010

The euro is facing an unprecedented crisis after another country indicated on Monday night that it was at a “high risk” of requiring an international bail-out.

Portugal became the latest European nation to admit it was on the brink of seeking help from Brussels after Ireland confirmed it had begun preliminary talks over its debt problems.

Greece also disclosed that its economic problems are even worse than previously thought.

Angela Merkel, the German Chancellor, raised the spectre of the euro collapsing as she warned: “If the euro fails, then Europe fails.”

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