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United Kingdom EU raises 4.75 billion euros for Portugal
Published on 25/05/2011
The European Union raised 4.75 billion euros ($6.7 billion) for Portugal on Wednesday in a new bond issue as part of a 78-billion-euro bailout for Lisbon.
The funds will be delivered to Portugal on June 1, the European Commission said, one day after a first bond issue raised 1.75 billion euros for Lisbon and another 3.0 billion euros for Ireland, another bailed out eurozone nation.
The loans, coupled with IMF aid, will “provide a comfortable liquidity situation in those member states in line with the country programme objectives,” the EU’s excutive arm said in a statement.