Wednesday, March 14, 2012

Political fights could unravel Portugal's bailout

LISBON, Portugal (AP) — Portugal's massive rescue package was threatened on two sides Monday — by internal political squabbling and external bailout fatigue among EU neighbors — and it was not clear whether the proposed deal would last.

A delegation from the International Monetary Fund, European Central Bank and European Commission — bodies that will raise the estimated €80 billion ($115.5 billion) bailout for Portugal and oversee its use — is expected in Lisbon on Tuesday for initial talks.

European finance ministers agreed Friday to put up the money Portugal needs, making it the third country in the 17-nation eurozone to accept a huge financial lifeline.

But a domestic …

No comments:

Post a Comment