British taxpayers could be forced to pay £3billion to rescue the Portuguese economy after the collapse of austerity talks in Lisbon last night.
A massive bail-out from the European Union now looks like the only option – with the UK unable to abstain despite not being in the eurozone, according to the Open Europe think-tank.
The warning comes after a vote in the Portuguese parliament rejected a proposed package of tax increases and spending cuts, leading to the resignation of the prime minister Jose Socrates.'
Read more...
No comments:
Post a Comment
Thanks for your comment it is much appreciated.