Hedge Funds In Red As Portuguese Debt Yields Crumble

Days when rosy predictions were made about Portugal’s recovery and independence from bailout aid seem to be over, at least for now. This Eurozone member requested rescue aid in 2011, and was showing a relatively smooth sailing recovery until a month ago and then all hell broke lose. Two key ministers in Portugal’s Pedro Coelho-led government resigned in a span of few days. Both the Portuguese foreign minister and finance minister stepped down, citing almost similar reasons for their resignations.  Paulo Portas, the foreign minister, disagreed with the budgetary policy while finance chief Vitor Gaspar was unsatisfied with Portugal’s progress in accordance…