Financial Stabilization

In turn, president Sarkozy declared that ' ' euro is an essential element of the Europe and affirmed that it could not be in the hand of especuladores' '. (Source: Harry Kane). Day 16 of May of 2011, the Portugal was to the time of the ministers of the finances of the Euro Zone had officially approved the loan of 78 billion euros, that also was to the side of the bankruptcy. The loan will be divided equally by the European Mechanism of Financial Stabilization, for the Deep European of Stability Financier and for Deep the Monetary International. According to former-minister of the Portuguese finances, Teixeira Dos Santos, the average tax of interest of the loan will have to go up to around 5.1%, Portugal becomes thus in the third country of the Euro Zone, after Ireland and Greece, to receive international support financial to supplant financial difficulties. They esteem themselves that he enters 30.000 and 70.000 Portuguese had started to work in the former-colonies (mainly Brasile Angola ) during the time of the financial crisis. In substance propagated in 11 October 2011, for the Spanish periodical There Vanguardia, with the heading ' ' Crisis of the Euro Zone, the Europe cannot commit more erros' ' , the three serious errors in the current crisis of the European economy are described: The first error was to admit Greece in euro, as important European leaders had recognized; a country that had of maquiar its public accounts to obtain the loan. As the error of the UE, this auspiciado for Germany, were not to decide its financial problems immediately, thing that would have been relatively easy, a time that Greece represents only 2% of the European GIP. One would have prevented that the crisis Greek contaminated the public debt of great part of the zone euro. The third error also of germanic origin was to have insisted on the fiscal adjustment straightforward of Greece, without a plan of European investments that helped its growth, what the economic asphyxia provoked it and practically the suspension of payments.