Portugal in talks over EU aid

Article reports that Portugal was holding talks with the European Union on the 5 April 2011 on how to meet its immediate borrowing needs as its banks pressed Lisbon to seek a bridging loan until a new government after the June 2011 election could negotiate a bail-out deal.

On the same day Moody’s, the credit rating agency, cut Portugal’s credit rating in the latest of a series of downgrades following the political crisis that had pushed the country to the brink of an international bail-out.

i, 6.4.11: Portuguese banks call for foreign aid (via PressEurop) http://www.presseurop.eu/en/content/news-brief-cover/586681-portuguese-banks-call-foreign-aid

European Commission: Memo/11/222: Portugal's request for the activation of the financial support mechanisms http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/11/222&format=HTML&aged=0&language=EN&guiLanguage=en

ESO: Background information: S&P downgrades Portugal and Greece http://www.europeansources.info/record/sp-downgrades-portugal-and-greece/

ESO: Background information: Fears of lost decade stir Portuguese poll fight http://www.europeansources.info/record/fears-of-lost-decade-stir-portuguese-poll-fight/

BBC News, 5.4.11: Portugal downgraded by Moody's on further debt concerns http://www.bbc.co.uk/news/business-12968950

Deutsche Welle, 5.4.11: Portugal hit by another credit downgrade http://www.dw-world.de/dw/article/0,,14966949,00.html

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