Debt Crisis Critical Moment For Europe: Portugal |
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February 28, 2011
Overcoming the sovereign debt crisis once and for all is a critical test for the European Union, Portugal said on Monday, appealing for urgent and effective support to defend it against renewed market attacks.
Overcoming the sovereign debt crisis once and for all is a critical test for the European Union, Portugal said on Monday, appealing for urgent and effective support to defend it against renewed market attacks.
Portugal has fought for months to stave off an international bailout after Greece and Ireland succumbed but there are growing doubts about Germany's willingness to support expanding or reconfiguring the bloc's rescue fund enough to calm investors and reduce the pressure.
Prime Minister Jose Socrates told a conference organized by Reuters and local TSF radio that the sovereign crisis was the biggest challenge to the European Union and the bloc's prestige depended on defeating it.
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