6 April 2011

But in the same time, the situation is different in other European countries. Ireland, Portugal and Spain have serious debt problems. Ireland has already had a bailout and it seems that Portugal will be next.  
An interest rate hike in Europe will only worsen these nations’ problems. It’s interesting how the euro will change in the nearest future after tomorrow’s announcement of the ECB. Meanwhile, the rate hike influence on the euro is obvious, but there are many other negative factors in the area that are left without attention.
We have just find out that Portugal has confirmed that it will ask for bailout money, we will watch and post tomorrow how it will influence global markets and Canadian mortgage market