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Has Portugal's debt default clock begun to tick?
Portugal clinched a deal on ambitious labor market reforms this week and carried out its biggest debt sale since seeking a 78-billion-euro bailout, but the challenges for the second-most risky country in the euro zone may be shifting up a gear. Undermining the glow of Lisbon's achievements is the rapidly rising market concern that Portugal is the next potential candidate to default in the euro zone after Greece -- a point that is fast becoming clear as Athens approaches the end of its debt restructuring talks. "Portugal is obviously the next in the line of fire," said Michael Cirami, a portfolio manager at U.S. ... (full story)
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