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World NewsPortugal debt downgraded to junkThe Lisbon stock exchange has slumped more than 2.5 percent after ratings agency Moody's downgraded Portugal's government debt to junk status July 5. Portugal needed a 78 billion euro(9 trillion yen) bailout from its European partners and the International Monetary Fund earlier this year after markets began charging it unsustainably high interest on loans as investors deemed the country a risk. (AP)
Shukan ST: July 22, 2011 (C) All rights reserved |