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Portugal asks EU for bailout
[Al Jazeera] Jose Socrates, the caretaker Portuguese prime minister, has announced that his debt-laden country has sent a request for financial aid to the European Commission.Speaking in a televised address to the nation on Wednesday, Socrates termed the move "inevitable". "I tried everying, but in conscience we have reached a moment when not taking this decision would imply risks that the country should not take," he said. Earlier on Wednesday, Fernando Teixeira dos Santos, the finance minister, said that Portugal would need to resort to European Union mechanisms in order to avoid defaulting on its debt. Posted by: Fred 2011-04-07 |
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