Douglas Carswell's Blog

Bailing out Portugal increases her debts

How does pushing more high interest loans on Portugal "help" Portugal?  It doesn't.

When the United States bailed out Latin American debtors in the 1980s, they did it by restructuring debt reducing the amount of money Latin America owed (see Brady Bond graphic on the left).

Bailing out the Euro in Ireland simply increased the amount of money that the Irish people will have to repay creditors.  It is no way to help a friend.

The answer to the Euro debt crisis is default and decouple - not more high interest debt.

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