Monday, January 10, 2011

Portugal's PM Rejects Bailout Plan

Portuguese Prime Minister Jose Socrates on Sunday rejected speculation over the need for a euro rescue fund bailout after German magazine Spiegel reported at the weekend that France and Germany were urging the country to apply for the eurozone aid.

Socrates emphasized that his country is achieving better results with income as well as expenditure, giving assurances that Portugal would meet its 2010 budget targets.

Portuguese President Anibal Cavaco Silva also expressed hope that his country would not have to resort to the eurozone rescue fund, saying that he was astonished by the Spiegel report.'


No comments:

Post a Comment

Thanks for your comment it is much appreciated.