Bank Of Baku

Euro nations lean on Portugal to seek help-paper

Euro nations lean on Portugal to seek help-paper
# 26 November 2010 09:36 (UTC +04:00)
Baku - APA-Economics. Euro zone nations and its central bank are urging Portugal to apply for a financial bailout from a European rescue fund, Financial Times Deutschland reported on Friday, Reuters reported.

Without revealing its sources, the paper said a majority of euro zone countries and the European Central Bank were putting pressure on Portugal to follow Ireland and Greece and seek aid in order to save Spain - European Union’s fifth-largest economy - from having to do the same.

The paper quoted a source in Germany’s finance ministry as saying: "If Portugal were to use the fund, it would be good for Spain, because the country is heavily exposed to Portugal."
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