Will Portugal : If U.S. defaults , all of Europe 's debts would be suspect . Higher taxes everywhere to support the southern European debt . He says the Greece could be forced to participate in rescuing south 's finances . Europe 's leaders need to take unpopular , dramatic steps to bail out the south , he says . The sooner and bigger the bailout , the better , the Super TARP says .
Will Portugal : If U.S. defaults , all of Europe 's debts would be suspect . He says the Greece could be forced to participate in rescuing south 's finances . Europe 's leaders need to take unpopular , dramatic steps to bail out the south , he says . The sooner and bigger the bailout , the better , the Super TARP says .