The President of the Portuguese Republic Cavaco Silva gives lesson about the crisis to Barack Obama

Cavaco Silva has shown this Sunday on the sidelines of the visit to the Hospital of St. João, Porto, who explained to Barack Obama that the economic crisis in Portugal is not as serious as Ireland and Greece

He listed three reasons to support this statement, "first because it has no banking crisis, and second because it has no housing bubble, and third because the level of public debt of Portugal is the level of other European Union countries."

The President also reiterated expect "that is not truly necessary to resort to the IMF," repeating what has also said the U.S. counterpart. 

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