Portugal could have avoided bailout

Portuguese banks have threatened in recent weeks to refuse to buy any more of the country's government bonds in a move to force the government to seek international financial assistance. The tabloid Correio da Manhã believes that the request for a bailout could have been avoided: "When the bank branch felt the yoke of the crisis the government was forced to ask for help and put an end to Sócrates' patriotic pantomime. There are no conspiracy theories here: those who were financing this policy and this state said: 'enough!' and the party was over. So now the IMF is to take over the chores the government could have long since completed without much trouble. But this help involves an 'austerity package' for which all of us will pay."

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