World shares tumble on Portugal downgrade fears
but... Portugal's Costa Pina Sees No 'Major Difficulties' Funding Debt
EU Van Rompuy: Spain,Portugal Market Moves "Totally Irrational" For now, Portugal, Ireland and Spain, widely seen as the next possible "dominos" after Greece, remain in significantly better shape. The interbank market is far from grinding to a halt as it did after Lehman Brothers collapsed in late 2008. But the spread of investor jitters in the past 24 hours, affecting markets as distant as yen swaps in Tokyo, suggests market conditions could deteriorate as rapidly as they did during the global financial crisis of 2007-2009.
Eurozone economy set to grow 0.9% in 2010: EU For Spain and Portugal, the two eurozone countries considered most at risk after Greek, the commission revised its growth predictions upwards. For Spain it see a rise in economic activity of 0.4 per cent this year, while the rate for Portugal was put at 0.5 per cent.