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    Sick System Reboot: Portugal sinks in euro quicksand

    RT News Channel

    RT News Channel

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    The European Central Bank has called on national governments to now do their part to ease the debt burden. Jean-Claude Trichet spoke ahead of a key meeting of world finance ministers, who are gathering in Paris to hammer out solutions to the crisis. The Fitch agency has also downgraded Spain's rating, as well as the creditworthness of several UK and Swiss banks. And Portugal is warning its deficit-cutting efforts are well off track. The Country's Prime Minster warns of deepening hardship next year with more pay cuts and tax increases ahead.

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