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EU Commission expects Portugal bailout request ‘soon’

Published on 07/04/2011

The European Commission expects Portugal to formally request a bailout soon and stands ready to send experts to Lisbon to negotiate the terms, a commission spokesman said Thursday.

“We expect the formal request soon. I do not know exactly how soon, this is a question for the Portuguese authorities,” said Amadeu Altafaj, the commission spokesman for economic affairs.

He refused to estimate how much Portugal will need in aid, saying the commission must first receive a request and assess the situation on the ground in Lisbon.

“The commission stands ready to send a mission to Lisbon along with European Central Bank staff as soon as we are asked to do so,” Altafaj said.