Portugal on Thursday (4 November) rejected rumours that it may need a Greek-style bailout after its borrowing costs went up despite austerity measures approved this week. Ireland is also struggling with soaring interest rates for its bonds, despite slashing an extra €6 billion in government spending.
The Portuguese government "rules out the possibility of seeking external help for the financing of its economy," the executive's spokesman Pedro Silva Pereira said, as quoted by AFP.
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