Wednesday, April 27, 2011

PORTUGAL - Lisbon calls for EU aid

"Help", as the daily. On 6 April, Prime Minister José Sócrates announced resigned as Portugal formally requested financial assistance to the European Commission to ensure the stability of its financial system and economy. The newspaper said the government was pushed by the banks to make that decision.

The amount of aid could be around 75 billion euros. Sócrates has justified this claim by pointing out that the refusal, March 23, parliament validate a new austerity program had worsened the financial situation of the country. Portugal is the third member of the euro area to apply for financial assistance from European Greece and Ireland.

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