Portugal Junked: 'Bailouts - outrageous anti-taxpayer scam'

From: RussiaToday | Jul 6, 2011

Europe's ongoing struggle to save the Euro has been dealt another blow as Portugal has had its debt downgraded to junk status. Moody's, the credit rating agency behind the move, says a default is likely unless the country is given another bailout. Many analysts have questioned the logic of saddling struggling economies with more debt as speculation grows over whether the EU is ready to come to Portugal's rescue again. And the direction the EU and the IMF are taking in solving this crisis may well lead to severe consequences - that's according to Douglas Carswell, an MP from the British Conservative Party.