Portugal, Ireland, Spain CDS spreads hit records - MarketWatch

Portugal, Ireland, Spain CDS spreads hit records - MarketWatch: "Fears surrounding sovereign-debt problems on the periphery of the euro zone drove the cost of protecting the debt of Ireland, Portugal and Spain to record highs on Thursday, according to data provider Markit. The spread on five-year Portuguese credit-default swaps widened to 505 basis points from around 491 on Wednesday, topping the 500-level for the first time, Markit reported. That means it would now cost $505,000 a year to insure $10 million of Irish sovereign debt against default for five years. The five-year Irish CDS spread widened 27 basis points to 620, while Spain's spread widened to 294 basis points from 279. Greece's spread was 12 basis points wider at 890."

Portugal's Judicial Police arrested four people for allegedly trying to smuggle the Coke into Spain

Portugal's Judicial Police said Thursday it had seized 121.8 kg of cocaine and arrested four people for allegedly trying to smuggle the drug into Spain.
The detainees, three men and one woman, "aimed to acquire and secure the transport of cocaine from Portugal to Spain with the intention of distributing it there," the police said.
"Some of those arrested had already been linked to narcotics trafficking by either Portuguese or foreign authorities," the police added. Four passenger vehicles were also seized, three of them with Spanish license plates, the police added.