Swiss Economicblogs.org
In July, six months after Greece elected a left-wing, anti-austerity government, the country came perilously close to leaving the euro. So it’s easy to understand why markets are nervous at the prospect of Portugal, a poster child for European austerity, replacing its reform-friendly, center-right government with a left-wing, anti-austerity coalition. The yield on 10-year Portuguese government bonds jumped 53 basis points to peak at 2.83 percent on November 9 since the ruling Social...
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