Bad timing

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24 March 2011 last updated at 14: 42 GMT Nigel Cassidy business correspondent, BBC News, Brussels was the start of the Summit of protests against expenditure cuts in Europe it was not to be be welcomed as follows.

Thursday and Friday were the economic control in the financially troubled euro area increase the days are signed as European Heads of State and Government finally new rules.

Most of the plans are now despite months of arguments and Fudges on the conditions at the design stage. You expect only debate on dinner today evening and final signature.

But once again outside events seemingly impossible, the immediate objective to capture have made it: a measure to restore peace and renewed confidence to the single currency and case rollback plan save for all future financially wayward members.

The summiteers had the gauntlet of thousands of protest against trade unionists angry on current and future cost-cutting measures its members imposed is run.

But that is just the beginning of it. Nothing, what the 17 here in the next 24 hours seems to agree, pressure ease on the bond market, now that the Portuguese Government in crisis and Ireland is likely threatens, to which the bondholders take a haircut on their loans make.

'Not to unsustainable'

Once again, diplomats are here to manage expectations.

We are constantly reminded of the Corps of darting Summit, the bag carriers in the Council building, the 17 to save Portugal if officially request support cottages can offer it.

Portuguese Prime Minister José Sócrates entered this week, but will be still the Summit

Even the head of the centre-right repeated social democratic opposition party, Pedro Passos Coelho, his "hope" that one can be avoided.

The financial markets tell a different story. Record borrowing debt prices of around 8% on the Portuguese Government are simply not to unsustainable, with large bond auctions in the the next few months.

Something has to give.

Investor confidence

All together, Brussels has to reassure the markets, that the measure to atop rubber-stamped to try future Bail-Outs to finance and control possibilities are peripheral high euro output.

But quickly undermine trust these latest events with Portugal. This is because the reason gave the Portuguese Prime Minister his resignation was that his Parliament to make savings vote would not.

It served the bond markets, because remember that Portugal (and possibly other euro countries) may not be willing or able, to commit welfare and public spending cuts on the scale required heavyweights led by Germany by euro.

All this adds only the potential future exposure for the other euro members, such as Portugal, to keep the Republic of Ireland and Greece of water.

Sources here were this afternoon to say that Portugal to help ask on the Summit was unlikely, although it could not entirely be ruled out.

It will be interesting to see, when the heads of State and Government can possibly come with something new on their press conference this evening the calm provide, still looking for Europe's lenders.