Portugal Agrees To $115B Bailout

http://seekingalpha.com/news-article/1018982-official-portugal-bailout-to-be-115-billion

LISBON, Portugal — Hard-up Portugal has negotiated an international bailout worth
euro78 billion ($115 billion) over a three-year period, officials said
Tuesday.

A government official, speaking on departmental rules of anonymity, told
The Associated Press the amount includes aid for Portugal’s cash-strapped banks. The official did not
provide further details.

Portugal’s interim prime minister announced the
financial rescue package for his ailing country will run through 2013.

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This was expected yet not priced in, as I pointed out back in January to make a case for the dollar index vs the Euro. The ECB rate hike has made this more expensive to fund and there will be more in the future. This may be the catalyst for the dollar index to finally reverse course.

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About Aaron Basile
Market Technician, Equity/Commodity Trader, Austrian Economist, Contrarian Investor

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