Portugal’s request for financial aid from Europe looks set to dominate a meeting of EU Ministers, which continues in Hungary today.
Finance Minister, Michael Noonan, had hoped to seek a re-negotiation of the interest rate being applied to Ireland’s bailout, but it’s feared that will now be overshadowed.
- Advertisement -
Portugal’s caretaker government is expected to seek in the region of 85 billion euro.
It’s not yet clear if the International Monetary Fund will be involved in any such deal, but Germany’s previously demanded that that be a pre-condition of EU bailout plans.
Neighbour Spain has vowed it will not follow its neighbour in seeking aid.
+
