Top German Politicians Want Portugal to Dump Its Gold in Exchange for a Bailout

Business Insider – German politicians don’t want to give Portugal its bailout cash until it sells its own assets, according to the International Business Times.Norbert Barthle, who is a member of Angela Merkel’s party and budget speaker, as well as his Social Democrat rival, Carsten Schneider, have both called for Portugal to think about selling its gold

Frank Schäffler, a member of the FDP party in coalition government, is more adamant, saying that Portugal should have to “sell their silverware” including gold, before they receive a bailout.

While the bailout package has been agreed to, economic ministers from the eurozone still need to approve the package in a vote on May 16.

As domestic pressure rises, German Chancellor Angela Merkel may force changes in the bailout package, or a higher interest rate on Portugal’s loans in order to appease her domestic constituencies.

Article by Gregory White, http://www.businessinsider.com/germany-potugal-gold-bailout-2011-5.

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One Response to Top German Politicians Want Portugal to Dump Its Gold in Exchange for a Bailout

  1. rajkannan.k says:

    tall me a p gold

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