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Portuguese Foreign Minister Says Country May Need To Leave Euro

Portuguese foreign minister Luis Amado has suggested his country might need to leave the eurozone if it cannot come to agreement on an austerity budget, according to Expresso (via WSJ.com).

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.


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I think this is a pretty big story.

If one or two leave, how quickly before the whole house of cards falls?

And that is what it is...a house of cards designed to make the harder working more responsible nations (like Germany) to prop up the lazy bastard nations (like Greece).

I sure wouldn't put up with it if I were Germany.

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul