Portugal's caretaker Prime Minister Jose Socrates has said that he has asked the European Union for financial assistance. Mr Socrates said the government has long resisted asking for aid but last week admitted that it had missed its 2010 budget deficit target. He did not say how much aid Portugal would ask for.Meanwhile, European Commission President Jose Manuel Barroso said in a statement that Portugal's request would be processed in the swiftest possible manner according to the rules applicable. He also reaffirmed his confidence in Portugal's capacity to overcome the present difficulties with the solidarity of its partners.
News On AIR | April 7, 2011 10:09 AM
Portugal asks European Union for financial assistance