According to the Wall Street Journal’s translation, Amado says that Portugal may face, “a scenario of exit from the eurozone.”
This comment may not seem like much, but it is evidence that fringe eurozone members are considering whether they should be in the currency union at all. Portugal has been unable to build a government coalition capable of passing the sort of cuts ECB officials are calling for, putting their membership at risk.
In a week dominated by headlines relating to Ireland’s imminent bailout, the return of Portugal to the front of the PIIGS crisis will only increase the pressure on the euro.
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