Dr Doom: Portugal likely to need bailout

clock

Economist Nouriel Roubini, known around the world as Dr Doom for forecasting the credit crisis, says Portugal will be the next European country in line for an Irish-style bailout.

While Portugal currently denies it needs international funds, Roubini says both Greece and Ireland had a similar stance before their respective bailouts, Reuters reports. "It (a bailout for Portugal) is becoming increasingly likely," Roubini told Diario Economico. "Like it or not, Portugal is reaching the critical point. Perhaps it could be a good idea to ask for a bailout in a preventative fashion." Roubini believes Spain must look to address its own problems however, as Europe has insufficient funding to bailout the country. "Spain is too big to fail and too big to save," Roub...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers expecting more of asset managers since Consumer Duty

Advisers expecting more of asset managers since Consumer Duty

‘We actually need to understand one another better’

Hope Coumbe
clock 28 March 2024 • 1 min read
Fears tech limitations could stall MPS on its upward trajectory

Fears tech limitations could stall MPS on its upward trajectory

‘There have been a few changes and challenges around growth in general’

Hope Coumbe
clock 27 March 2024 • 1 min read
Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 27 March 2024 • 5 min read