In order to raise 8.5 billion euros, France is starting to sell debt. The Netherlands, Belgium and Germany are also going to raise money. However, the focus is on Portugal which many think may be the next domino to fall in the debt crisis. If so, Protugal may be the third economy to receive a bailout.
Intesa Sanpaolo strategists estimate that in the first 3 months of 2011, Portugal will apply to the European Union for financial assistance. They further assert that “We believe the euro government bond crisis should be overcome without other countries reaching the point of default.” . At any rate, the results of bond auctions in early January, 2011 will establish the trend for the first quarter, maybe for the entire year.