{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Crisis-hit Portugal raises $2 billion in auction' data-url='/boclips/videos/5c54c211d8eafeecae156e77' data-video-url='/boclips/videos/5c54c211d8eafeecae156e77' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nCrisis-hit Portugal raises $2 billion in auction\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Pan of brokers working on trading floor  2. Close of screen   3. Close of broker using a calculator  4. Close of broker watching the screen  5. Various of brokers at work  6. SOUNDBITE (Portuguese) Pedro Santos, broker at Banco...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Pan of brokers working on trading floor  \u003cbr/\u003e2. Close of screen   \u003cbr/\u003e3. Close of broker using a calculator  \u003cbr/\u003e4. Close of broker watching the screen  \u003cbr/\u003e5. Various of brokers at work  \u003cbr/\u003e6. SOUNDBITE (Portuguese) Pedro Santos, broker at Banco Espirito Santo:   \u003cbr/\u003e\"The Portuguese government was back today in the stock market selling 1.071 (b) billion euros in three-month bills at a rate of 4.972 percent, similar to the last debt auction.  At six months, the state sold 432 (m) million euros in a new 'line' at a rate, also similar to the last debt auction, of 5.25 percent. It's positive for the Portuguese state because it continues to have access to the market, but just in the short term because, as it's well known, the long term market is not opened to the Portuguese economy.\"  \u003cbr/\u003e7. Mid of screens showing graphics and brokers working  \u003cbr/\u003e8. Close of brokers' hands typing  \u003cbr/\u003e9. Mid of brokers watching the screen and chatting\u003cbr/\u003e10. Close of screen reading \"Portugal\" and broker behind it  \u003cbr/\u003e11.SOUNDBITE (Portuguese) Pedro Santos, broker at Banco Espirito Santo:   \u003cbr/\u003e\"Investors are waiting for the European Union meeting next weekend, where they will decide about three important topics: a plan to recapitalise the banks, to avoid a crisis of liquidity which could provoke recession in the economy;  a plan to help Greece, it's important to understand how the default of Greece is going to happen and what's the amount of the 'hair cut'; and especially the increase in the stabilisation funds - the European Union will try to give the investors certainty about the future to show that no other country will be in default as it happened with Greece.\" \u003cbr/\u003e12. Various of broker talking on the phone  \u003cbr/\u003ePortugal has raised 1.5 (b) billion euros (2.07 billion US dollars) in a debt auction with near-flat interest rates as investors took heart from the government's latest spending cuts. \u003cbr/\u003ePortugal needed a 78 (b) billion euro bailout earlier this year to avert bankruptcy amid unsustainable debt levels and spiralling interest rates. \u003cbr/\u003ePedro Santos, a broker for Banco Espirito Santos, said the government sold 1.07 (b) billion euros in 3-month bills on Wednesday at a rate of 4.972 percent, the same as two weeks ago. \u003cbr/\u003eIt also sold 432 (m) million euros in 6-month bills at 5.25 percent compared with 5.249 percent on October 5 amid strong demand.\u003cbr/\u003e\"It's positive for the Portuguese state because it continues to have access to the market, but just in the short term because, as it's well known, the long term market is not opened to the Portuguese economy,\" Santos said. \u003cbr/\u003eMeanwhile, investors are focusing on a 23 October summit, where, according to Santos, European leaders will make some important decisions on recapitalising the banks; a plan to help Greece; and how to increase stabilisation funds. \u003cbr/\u003eThe state budget for next year is expanding an austerity programme of tax hikes and pay cuts, though the measures are forecast to deepen the current recession and push unemployment to a record 13.4 percent next year. \u003cbr/\u003eThose forecasts have fuelled uncertainty about Portugal's ability to pay its debts.\u003cbr/\u003eMeanwhile, the General Confederation of Portuguese Workers and slightly smaller General Worker's Union, grouping more than one (m) million workers, said they would stage their second general strike in a year on November 24.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' 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