{"id":22972,"date":"2017-02-24T21:22:43","date_gmt":"2017-02-25T02:22:43","guid":{"rendered":"http:\/\/olduvai.ca\/?p=22972"},"modified":"2017-02-24T21:22:43","modified_gmt":"2017-02-25T02:22:43","slug":"eu-bailout-of-portugal-has-failed","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=22972","title":{"rendered":"EU Bailout of Portugal Has Failed"},"content":{"rendered":"
\n

EU Bailout of Portugal Has Failed\u00a0<\/a><\/h3>\n<\/div>\n
\n
\n
\n

\"Lisbon\"<\/a><\/p>\n

This year, 2017, is the beginning of the Sovereign Debt Crisis. While Greece is\u00a0popping up on the financial radar, the Euro rescue in Portugal has also completely failed to reverse the trend of the country. There has been no effective relief from the debt crisis in Southern Europe. The debt in Portugal is also once again as high as before the crisis of 2010. The 78 billion euros of the European taxpayers money did nothing to reverse the economic trend, but in fact the funds simply went to save the banks.<\/p>\n

\"IBEUUS-Y<\/a>Politicians really should be criminally prosecuted for trying to manage an economy. They have no experience and their own political careers always come first. As I have stated before, when the Euro was being planned, the commission in charge attended our World Economic Conference in London. I warned them that the Euro would fail unless the plan consolidated all the debts of member states. They said they understood the problem, but that the European people would never vote for that plan and so they wanted to get the currency through first and deal with the debt later.<\/p>\n

That Phase II never came and as a result, as the euro then rallied from 80 cents to the dollar to about $1.60, all\u00a0PREVIOUS\u00a0debt of \u00a0member states\u00a0DOUBLED\u00a0in real cost. Joining the euro effectively destroyed Southern Europe and the politicians still cannot figure this out. It is as simple as you borrowed a foreign currency to buy your house and then that currency double in price. You now owed twice the amount in your home currency.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

EU Bailout of Portugal Has Failed\u00a0 This year, 2017, is the beginning of the Sovereign Debt Crisis. While Greece is\u00a0popping up on the financial radar, the Euro rescue in Portugal has also completely failed to reverse the trend of the country. There has been no effective relief from the debt crisis in Southern Europe. The […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[5496,279,281,284,285,5479,4696],"class_list":["post-22972","post","type-post","status-publish","format-standard","hentry","category-economics","tag-armstrong-economics","tag-eu","tag-europe","tag-european-union","tag-eurozone","tag-martin-armstrong","tag-portugal"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22972","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22972"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22972\/revisions"}],"predecessor-version":[{"id":22973,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22972\/revisions\/22973"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}