More Risk From Portugal

Portugal’s budget for 2013 may fall apart, and with it the Portuguese government.

The euro area has had a rough few weeks: Cyprus agreed to a bailout program that will decimate its economy, Italy's Pier Luigi Bersani, the Democratic Party leader, failed to put together a government, borrowing costs for businesses in the peripheral countries continue to rise, unemployment reached record highs, and purchasing manager indices across the region greatly underperformed expectations.

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