Pressure grows on Portugal

first_img whatsapp Tags: NULL Show Comments ▼ PRESSURE is growing on Portugal from Germany, France and other Eurozone countries to seek financial help from the EU and IMF to stop the bloc’s debt crisis from spreading, a senior Eurozone source said yesterday.Some preliminary discussions on the possibility of Portugal asking for help if its financing costs on markets become too high have taken place since July, the source said.No formal talks on aid have started yet, a number of Eurozone sources said, but the pressure was rising in the Eurogroup, which brings together Eurozone finance ministers.“France and Germany have indicated in the context of the Eurogroup that Portugal should apply for help sooner rather than later,” the source said, adding Finland and the Netherlands expressed similar views.Earlier yesterday a Portuguese government spokesman denied claims that Lisbon was under pressure from Berlin and Paris to seek a bailout from the European Union and International Monetary Fund.Many policymakers hope EU/IMF financing for Portugal would ring fence the Eurozone debt crisis, in which Greece and Ireland have already taken bailouts.Help for Lisbon would aim to protect Spain which might be next in line, but whose financing needs would stretch current Eurozone aid capabilities to the limit.The source said Portugal’s bailout would likely total between €50bn (£41.5bn) and €100bn. Share Sunday 9 January 2011 11:12 pmcenter_img KCS-content Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndo Pressure grows on Portugal Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapplast_img

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