Euro Take Down

Yet another reason to get as prepared as possible. The powers that be have successfully tied all of our economies together, and the outlook as beyond bleak for the financial system to be able to recover any semblance of true balance. Do all you can to stock up and have food and water and necessaries for you and your family. Keep your eyes open and your efforts in a place of preparation. If we wobble on, great! It never hurts to have a good stock of non perishables on hand.

EURO CRISIS ON: Portugal Crashes After Finance Minister Resigns

Joe Weisenthal Jul. 3, 2013, 3:56 AM
portugal protest coelhoAP

And it’s like the good old days in Europe today.The Portuguese stock markets is crashing over 6%.

Interest rates on Portuguese bonds are spiking.

The cause? The Finance Minister has resigned in a dispute over austerity.

From WSJ:

Mr. Gaspar said in his resignation letter that he had first offered to step down last October amid evidence that public and political support for the country’s austerity program was fading. Protests and strikes have become more common since then, and some lawmakers from the governing coalition have joined its critics in saying austerity is doing the country more harm than good.

“It is my conviction that my exit will contribute to reinforce your leadership and cohesion within the government,” Mr. Gaspar wrote to Prime Minister Pedro Passos Coelho in the letter.

Europe is red across the board.

Germany is down 1.5%. Italy is off 1.8%. Spain is down 2.6%.

Read more: http://www.businessinsider.com/portuguese-market-falls-2013-7#ixzz2Y0IBSYBr

 

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