European Commission denies any Portugal bailout talks

10th January 2011, Comments 0 comments

The European Commission denied on Monday reports that Portugal is under pressure to seek a bailout in order to stop the euro debt crisis from engulfing other nations such as Spain and Belgium.

"There are no such talks and there are not even any plans to have any such talks, whether it is about Portugal or another (eurozone) member state," the commission's economic affairs spokesman, Amadeu Altafaj, told a news briefing.

The German weekly Spiegel reported on Sunday that Germany and France want to press Portugal to seek a bailout in order to stop Spain and Belgium becoming the next euro crisis casualties.

Portugal, Germany and France have also denied the report.

Portugal is viewed by many analysts as the eurozone country most likely to follow the example of Ireland and Greece and seek a bailout as it grapples to cut its debts and borrowing costs.

© 2011 AFP

0 Comments To This Article