Portugal asks for EU bailout
LISBON, Portugal, Apr 6 (UPI) -- Portugal said weekday it crapper no individual give its borrowing costs and asked for planetary assistance to alter its finances.
In a televised address, Prime Minister Jose Athenian said, "I had ever considered right assistance as a terminal aid scenario," but added, "I say today to the Portuguese that it is now in our domestic interests to verify this step."
The country's assets hit been reeling in past weeks with yields on criterion 10-year notes reaching 8.43 proportionality and 2-year bonds relinquishing 8.6 percent.
Moody Investors Services this hebdomad dropped Portugal's debt judgement from A3 to Baa1 and said it was "urgent" that Portugal accomplish discover for an EU bailout.
The country is under a caretaker government, as Athenian said he would resign digit weeks past after Parliament unsuccessful to pass a ordinal ammo of nonindulgence budget cuts.
European Commission President Jose Manuel Barroso said the EU would move to Portugal's assistance letter "in the swiftest possible manner, according to the rules applicable."
Source
0 comments:
Post a Comment