Portugal has confirmed that it will become the 3rd European country to be bailed out in recent times. Greece started the new trend (well, ignoring the U.S. for a moment) followed late last year by Ireland, and now I wonder how many other EU members are contemplating asking for a handout.
In the middle of last year the euro-zone bloc established a €440 billion fund, called The European Financial Stability Facility (EFSF), to assist member countries in financial strife. Now whilst this is a great idea in times of crisis, it should be questioned whether countries, particularly smaller ones that feed off EU membership will become more and more careless in regards to the management of their economies, if they know they can factor in this fund when deciding what direction to take. Now it should be noted that Prime Minister