Portugal Negotiates for Emergency Funding

Portugal’s Finance Minister Fernando Teixeira dos Santos announced that the beleaguered country will begin talks with Eurozone officials to arrive at terms to provide an estimated 75 billion euros ($107 billion) as it becomes the third euro-region country to seek European Union aid.

“Clearly the view of the market was that this was inevitable and that it was only a matter of timing even if we still don’t know what the deal will be,” said Julian Callow, chief European economist at Barclays Capital in London.

Source: Bloomberg

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