Euro Crisis : History repeats

The Guardian report that

the Portuguese prime minister José Sócrates insists Portugal is under no pressue from EU states to accept a euro bailout.

Meanwhile

After Financial Times Deutschland reported eurozone nations and the European Central Bank were urging Portugal to follow Ireland and capitulate to financial aid, the office of the Portuguese prime minister José Sócrates said it was “totally false” that the country was under such pressure.

So the politicians deny any contact while financial journalists say that the ECB are urging action. I don’t know, it all sounds very familiar.

No bio, some books worth reading – The Rational Optimist: How Prosperity Evolves – Matt Ridley .

Crisis Economics: A Crash Course in the Future of Finance -Nouriel Roubini, Stephen Mihm