Portugal asks for EU financial aid

Fri, April08, 2011
English.news.cn 2011-04-08 08:25:30

LISBON, April 7 (Xinhua) -- Portugal will ask Thursday for the EU financial aid, said the minister for the presidency of the council of ministers, Pedro Silva Pereira, at the end of the weekly government meeting.

However, Pereira did not specify the amount Portugal will ask for.

"This will depend on the negotiations the government will have with the European authorities. The request the Portuguese government will send to the European Commission and the dialogue we will have with them will establish the instrument and the amount that will be used," he said.

According to the minister, the European Union (EU) authorities and the European Central Bank already expressed their availability to send a joint team to Portugal to start the negotiations.

Due to the fact that Portugal will have general elections in June 5 and the government can not commit the country after that date, the solution should be a short term loan until the new government would be inaugurated. ByXinhua