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i - Portugal | Wednesday, June 3, 2015

Portugal should keep fingers crossed for Greece

A Grexit would be bad news for Portugal, warns the centre-left daily i: "For the government a Grexit would prove that it was right with 'its' and all Europe's motto that 'There are no alternatives'. For the Socialists who promise a break with the current austerity policy it would be a major setback. But regardless which of the two discourses a Grexit would favour, it would have enormous consequences for Portugal and expose the country's vulnerability. If the Pandora's box is opened it is likely that the yields on Portuguese government bonds will spiral. ... So Portugal should keep its fingers crossed for Greece - which however isn't happening. One can understand why the centre-right parties aren't doing just that, but as regards the Socialists it's less understandable."

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