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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