The Portuguese request for a bailout must lessen the one-in-seven odds somewhat, even though it has long been awaited. The poorer EU countries are going to get poorer, with debts that look impossible to repay.
It’s possible to ignore Greece’s problems, sadly Ireland’s may be the same, and Portugal doesn’t rate highly on the EU importance register either, but Spain is now even more in the spotlight. The rating agencies must be sharpening their pencils across the big pond and German Angst is reaching new levels.
The signed treaties are never set in stone, Versailles was a big one and was torn up, could the same happen to Maastricht and Lisbon, or even Rome?
I can’t remember one ever being signed in Berlin, but if it was ever attempted, there would be some trembling hands around the table and British ones might well be absent. Unless they send Clegg, he would sign anything.
