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Europe
Portuguese island awash in sea of debt
Country's island of Madeira, nearly $8bn in debt, has become example of fiscal mismanagement.
Last Modified: 11 Feb 2012 20:41

Many economists predict that Portugal may need a second bail-out from its European partners.

This week, Angela Merkel, the German chancellor, drew attention to the situation on the Portuguese island of Madeira, which has a population of just over 250,000, but has run up debt of more than $8bn.

Al Jazeera's Barnaby Phillips reports from Madeira.
Source:
Al Jazeera
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