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Portuguese leader Jose Socrates and German Chancellor Angela Merkel at the EU Council (Photo: consilum.europa.eu)

Core EU states put squeeze on Portugal to accept bail-out

Major European powers are putting the squeeze on Portugal to follow Greece and Ireland and knock on the doors of EU and IMF bail-out resources.

Reports over the weekend quote senior European sources as saying Berlin, Paris and other core eurozone capitals are leaning heavily on Lisbon to apply for a financial rescue, although the Portuguese government continues to deny that any pressure is being mounted.

The news comes as Portugal is set to go to the markets on Wednesday (12 Janua...

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Portuguese leader Jose Socrates and German Chancellor Angela Merkel at the EU Council (Photo: consilum.europa.eu)

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